RIL Leads To An Initial Decline

Benchmark central open down on weak Asian stocks. The data showed strong sales of foreign funds has recently adversely affected investor confidence. BSE Sensex fell 159.94 points or 1.01% to 15,698.55. The size of the market was negative. Asian markets fell Friday, November 25, 2011, as persistent concerns about the debt crisis in Europe has kept investors on the sidelines.

Index heavyweight Reliance Industries (RIL) lower cut in early trade. Shares of retailers rose after the government organized the Union is Thursday, November 24th, 2011, removed a proposal to allow 51% foreign direct investment (FDI), a multi-brand retail trade and foreign direct investment in 100% single-brand retail sector from the current 51%.

The data showed a strong foreign fund sales recently hit a negative investor sentiment. FIIs sold shares worth Rs 1636.08 crore in a single mass meeting Thursday, November 24, 2011, according to preliminary data of the award. Its production amounted to 6483.66 crore in eight trading session R 15-24 noviembre, 2011, according to the bag.

9:26 IST, the BSE Sensex was down 159.94 points or 1.01% to 15,698.55. The index lost 178.11 points lower today 15,680.38 in early trade. The index fell 77.24 points, the highest at the beginning of today’s trading.

S & P CNX Nifty fell 51.70 points or 1.09% to 4704.75. The Nifty hit a high of 4,731.30 and low 4,701.45 in intraday trading.


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