Sensex, Nifty continue to fall only on correction in ITC, RIL

Epic Update Reliance IndustriesEpic Update Reliance Industries

The market continued to fall in morning trade, with the Nifty struggling below 9900 due to correction only in Reliance Industries and ITC.

The 30-share BSE Sensex was down 200.73 points at 31,874.05 and the 50-share NSE Nifty fell 42.95 points to 9,873 but the broader markets outperformed benchmarks, rising 0.2 percent on recovery in market breadth.

About 1039 shares advanced against 965 declining shares on the BSE.

 Reliance Industries slipped 1.5 percent on profit booking after rising more than 12 percent in previous 11 consecutive sessions.

ITC shares lost 11 percent after the GST Council hiked cess on cigarettes that contributed more than 45 percent to total revenue. ITC alone contributed 335 points to Sensex’ fall followed by Reliance Industries with 47 points.

However, other stocks, including index heavyweights continued to support the market and helped benchmark indices trim losses.

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Epic Research
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