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Samvat 2062 ends on a weak note

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MUMBAI: With the forthcoming expiry of derivatives contract casting a shadow on the stock markets, the Samvat 2062 concluded on a weak note on Friday with the benchmark Sensex closing 14 points down, despite enthusiasm over Reliance Industry's working.

Initially, RIL's Q2 robust presentation lifted the Bombay Stock Exchange 30-share sensitive index (Sensex) to the intra-day high of 12849.02, a rise of about 126 points.

The Sensex, however, came under pressure during the latter part of the day and closed at 12709.40 against Thursday's close of 12723.59, netting a loss of 14.19 points.

Similarly, the National Stock Exchange's S&P CNX Nifty closed flat at 3676.85 against 3677.80. The early rally was shortlived as investors turned sellers in the latter part of the session with only two trading days in hand for a smooth rollover to November contract in the light of two holidays on October 24 and 25 on account of Diwali and Ramzan Eid respectively.

Brokers said retailers and institutional investors seemed interested in squaring up positions before the current futures contract expired on October 26 PTI


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