Millennium Post

Sensex erodes 136 points to end at 3-week low

Shrugging off firm global trends, the benchmark sensex washed out early gains on profit-booking after mid-session and dropped by about 136 points to end at more-than three-week low of 18,577.70 on weak Q2 results by index heavyweight, Reliance Industries [RIL] declared after trading hours on Monday.

Confused over the on-going political chaos, investors decided to book profits and play safe in the current festive season and also ahead of the expiry of derivatives contract on 25 October, which also weighed on the market sentiment.

RIL,, dipped by 1.21 per cent and was the major contributer to the sensex fall following 5.7 per cent drop in net profit in the second quarter ended September 2012 over Q2 September 2011 announced by the company on poor gas output and lower margins, but sequentially its earnings rebounded.    


Shares of DLF on Tuesday came under renewed selling pressure, falling over 4 per cent in an overall weak stock market, where the benchmark index Sensex plunged 136 points.Since 5 October, the scrip has lost nearly 14 per cent.Even after a positive opening, shares of the company failed to sustain the momentum and finally settled 4.26 per cent lower at Rs 208 on the BSE. During the day, shares of the company lost 4.85 per cent at Rs 206.70. At NSE, the scrip closed at Rs 207.70, down 4.42 per cent. Meanwhile, the controversy over alleged land deals involving Robert Vadra took a new turn on Tuesday.
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