Sensex ends 58 pts lower; RIL falls 4%, Tata Motors up 4.5%

The 30-share BSE Sensex closed marginally lower amid choppy trade on first day of the week shrugging off the positive global cues. Equity benchmarks remained in a negative terrain due to sharp fall in heavyweight Reliance Industries post its second quarter earnings. The BSE benchmark fell 57.60 points, to close at 17,025.09 and the NSE Nifty dropped just 14.05 points, to end at 5,118.25.

Hiren Ved, director and chief investment officer of Alchemy Capital Management is sceptical about the chances of the market breaking out of the trading range. "We are still pretty much in a very broad range between 4700 and 4800 on the downside, and may be 5400-5500 on the upside," he says. "We will have to spend a lot of time before the issues that we face, both domestically as well as internationally, get sorted out," he rues.
Capital goods, power, telecom, select technology and healthcare companies' shares too were on sellers' radar. However, buying in auto, banking, realty and FMCG stocks has limited the downside to major extent.
Reliance Industries, which has 11% weightage on Sensex, fell nearly 4% post second quarter results of FY12. RIL