Sensex, Nifty decline after three days of gains; Jio Financial falls 4.99%

Benchmark Sensex and Nifty ended with losses on Thursday after three straight days of gains. Index heavyweight Reliance Industries Limited (RIL) shed 1.8 per cent and accounted for bulk of the losses in both the indices. 

Both the Sensex and the Nifty declined over a per cent from the day’s highs amid a 2.5 per cent drop in RIL from its intra-day high. 

After hitting a high of 65,914, the Sensex finished at 65,252, down 181 points, or 0.3 per cent. 

The Nifty closed at 19,387, down 57 points, or 0.3 per cent. 

Sensex and Nifty opened higher following overnight gains in US stocks and positive cues from Asian markets. However, the indices failed to hold onto gains due to losses in IT, oil, and banking shares.

From the Sensex pack, Jio Financial Services fell the most by 4.99 per cent. Reliance Industries, Power Grid, Larsen & Toubro, JSW Steel, HCL Technologies, NTPC, Tata Steel, Wipro, Tata Consultancy Services and HDFC Bank also declined.

IndusInd Bank, Infosys, UltraTech Cement, ICICI Bank, Nestle and Axis Bank were among the gainers.