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Sensex Drops 70 Points, Nifty Closes At 10,750; Infosys Slips Over 4%

Shares of Reliance Industries Ltd erased all morning gains after its 41st Annual General Meeting (AGM) announcements and fell nearly 3 per cent.

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Sensex Drops 70 Points, Nifty Closes At 10,750; Infosys Slips Over 4%

Titan Company Ltd fell as much as 5.7per cent and was the top percentage loser on NSE.


Benchmark indices BSE Sensex and NSE's Nifty erased early gains in afternoon trade today and closed Monday's session in red. The S&P BSE Sensex skidded 70.85 points, or 0.20 per cent, to close at 35,574.55. The NSE's Nifty50 index plunged 20.15 points or 0.19 per cent and settled at 10,749.75, following weak global cues amid persistent trade tensions. Shares of Reliance Industries Ltd erased all morning gains after its 41st Annual General Meeting (AGM) announcements and fell nearly 3 per cent. 

Mukesh Ambani, the Chairman of Reliance Industries (RIL), today launched the Jio GigaFibre at the company's 41st AGM, along with several other announcements for stakeholders and consumers of Reliance Jio and Reliance Industries.

Infosys Ltd and Tata Motors Ltd lost ground on Monday as a looming deadline for imposition of US tariffs on China played on investors' minds. Infosys was over 4 per cent down on both indices.

The top gainers in the Sensex pack were Yes Bank, ITC, Coal India, Asian Paints, Bajaj Auto and Mahindra & Mahindra, rising between 1.34 per cent to 3.96 per cent, while Infoysy, Vedanta, Tata Steel, Reliance, Sun Pharma and Tata Motors were the major laggards, ending with losses between 2.06 per cent to 4.47 per cent.

On the NSE, Ultracemco, Yes Bank, ITC, Asian Paints and Coal India were leading the pack, rising between 2.61 per cent to 3.89 per cent while Titan, Infosys, Vedanta, Reliance and Sun Pharma lost the most, ending with losses between 2 per cent to 5.70 per cent.

Titan Company Ltd fell as much as 5.7 per cent and was the top percentage loser on NSE after its bleak June-quarter update disappointed investors.

Tata Motors was among the top percentage losers on the BSE index, falling to its lowest in over five years after unit Jaguar Land Rover said on Wednesday that a so-called "hard Brexit" would cost it 1.2 bln pounds ($1.59 bln) a year.

Among gainers, financials stocks continued to rise with Yes Bank Ltd rising the most on both BSE and NSE index. It gained around 4 per cent on both indices after it got final regulatory approval from the markets regulator to begin its mutual fund business.

The Nifty IT index fell for the second consecutive session, down 1.2 percent. It had risen 2.4 per cent in June. (With Agencies inputs)



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