Market volatile, Sensex slipped 284pts

MUMBAI: News about Reliance Industries forced the market to slow the growth in early trade and it resulted in fall of markets. The Bombay Stock Exchange benchmark Sensex slipped 284 points at 14953 at 1.15 pm. The wide-based National Stock Exchange dipped by 56 points to 4,517.40. The high court ruled that Reliance Industries will have to sell gas at $2.34 per mmBtu to Reliance Natural Resources Ltd (RNRL).


This had a huge impact on market and the BSE fell extending its losing streak for the third session, on increased capital outflows by foreign funds tracking other weak Asian markets. Stock brokers said reports of weakening trend at the Asian markets, slipping from almost eight-month highs struck earlier this month, and profit-bookings at prevailing levels by retail investors, mainly dampened the trading sentiment. Major losers, which dragged the Sensex down, were metals, realty, consumer durables and banking stocks.