Market

Sensex falls 200 points, Nifty below 11,700 dragged by RIL, OMCs

Updated : April 22, 2019 09:57 AM IST

IOC, BPCL, YES Bank, RIL and Bharti Airtel fell the most on the index

RIL fell nearly 3 percent after the company's petchem and refining businesses disappointed in Q4

Jet Airways extended fall, cracking 18 percent as the crisis in the airline continued

Sensex falls 200 points, Nifty below 11,700 dragged by RIL, OMCs

Indian shares slipped on Monday as crude oil prices rose on a report that the United States is likely to end sanction waivers provided to nations buying oil from Iran. Asian stocks remained muted as investors awaited the return of major financial markets from the Good Friday holiday.

At 9:20 am, the BSE Sensex was trading at 38,940, down 199 points, while the broader NSE Nifty50 was ruling at 11,685, slipping 70 points. Broader markets underperformed benchmark indices, with Nifty Midcap and Nifty Smallcap slipping 1 percent each.

Infosys, Tech Mahindra, Wipro, JSW Steel and PowerGrid were the top gainers on the Nifty, while, Indian Oil, Bharat Petroleum Corp Ltd, YES Bank, Reliance Industries and Bharti Airtel fell the most on the index.

All sectoral indices, except Nifty IT, were trading in the red. The Nifty Realty and Nifty PSU Bank fell over 1 percent each, while Nifty Auto, Nifty Bank, and Nifty Private Bank also slipped in early morning deals.

RIL fell nearly 3 percent after the company's petchem and refining businesses disappointed in Q4. It reported a 9.8 percent growth in the Q4 consolidated net profit to Rs 10,362 crore. The revenue rose 19.4 percent quarterly to Rs 1.54 lakh crore.

Jet Airways extended its fall, cracking 18 percent as the crisis in the airline continued.

HDFC Bank rose 1 percent as the company reported a 22.62 percent year-on-year (YoY) jump in net profit at Rs 5,885.12 crore for the fourth quarter ended March 2019, driven by growth in net interest income as well as operating income.

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