Sensex dips 623-pts, Nifty down 183-pts, Reliance stock Surges

Key benchmark indices declined massively in trade Tuesday, led by heavyweight stocks such as HDFC Bank and HDFC, despite Reliance recorded huge surge.

At close, the Sensex ended with losses by 623 points, while the Nifty slumped 183 points. Major losers in Nifty were Yes Bank, Bajaj Finance, M&M, Bajaj Finserve and Eicher Motors, while IndiaBulls Housing, Reliance Industries, Sun Pharma, Gail India and Zee Entertainment led the losses.

All Nifty sectoral indices closed in the red with maximum losses in Nifty Auto and Fin Services witnessed a fresh round of selling.

Shares of Reliance Industries Ltd (RIL) closed at Rs.1,275.30  per share by 9.74% gains after Company announced various developments. The Nifty energy index was single sector to close higher out of 14 sub indexes, driven largely by Reliance Industries.

Shares of Sun Pharma closed at Rs.438.35  per share, up by 3.87% after the Company’s quarterly numbers beat estimates.

Shares in HDFC declined near 5% at Rs.2101.85 per share, while HDFC Bank down by 2.37% at Rs.2228.00.

Auto stocks witnessed a new round of selling with Nifty Auto index falling by 3.95% led by huge losses in Motherson SumySystems, Bharat Forg and Bosch, down by 6 to 8% in range.

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