Business

Sensex down 218 pts, RIL up 9%

Punjab News Express | August 13, 2019 11:14 AM

MUMBAI:  The Sensex fell by over 200 points during the early trade on Tuesday.

Index-heavyweight Reliance Industries Ltd. (RIL) jumped nearly 9 per cent after Saudi Aramco signed a letter of intent for a proposed investment in RIL's oil-to-chemical division. The deal is likely to fetch RIL $15 billion for a 20 per cent stake.

At 9.50 a.m., the Sensex traded 218.39 points, or 0.58 per cent, lower at 37,363.52. The Nifty slid by 57.20 points, or 0.51 per cent, to 11,052.45.

On Friday, the Foreign Portfolio Investors (FPIs) turned buyers. FPIs bought Rs 203.73 crore worth of stocks while Domestic Institutional Investors also purchased scrips worth Rs 606.92 crore.

Globally, financial markets dropped owing to massive protest in Hong Kong, which could effect business.

Besides, the US-China trade tension and the slump in Argentina's peso remained a cause of worry.

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