Sensex, Nifty fall as banks underperform, RIL stock slips


Sensex and Nifty inched lower today after a fall in banking stocks. At 9:20 am, S&P BSE Sensex was down 0.18 per cent at 44,576.51, while NSE Nifty 50 was fell 0.1 per cent to 13,095.55. 

The Nifty Banking Index slipped 0.4 per cent with top private-sector lender HDFC Bank down almost 1 per cent. (Photo: Reuters)

Domestic benchmark indices on Wednesday from record closing highs hit in the previous session as banks stocks underperformed ahead of Supreme Court’s hearing in the ongoing loan moratorium case. The shares of the country’s most valuable company, Reliance Industries Limited, also slipped.

At 9:20 am, S&P BSE Sensex was down 0.18 per cent at 44,576.51, while NSE Nifty 50 was fell 0.1 per cent to 13,095.55.

Both Sensex and Nifty had gained more than 1 per cent at closing yesterday on the back of increased economic recovery and vaccine hopes. The Nifty Banking Index slipped 0.4 per cent with top private-sector lender HDFC Bank down almost 1 per cent. Shares of Kotak Mahindra Bank, ICICI Bank and SBI were also fell today.

Meanwhile, Reliance Industries Limited (RIL) shares fell 0.6 per cent, while Tata Motors rose over 3 per cent after reporting higher November sales.

It is worth noting that fast food restaurant chain Burger King’s India arm opened its Rs 810 crore Initial Public Offering (IPO) for subscription on Wednesday.



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