Shares of Mukesh Ambani-led
Reliance Industries settled lower on Friday despite a
strong rally in the broader market. Shares of the market behemoth closed down by 0.03 per cent at Rs 870.40 on the Bombay Stock Exchange. In intra-day, the stock shed 1.74 per cent to hit a low of Rs 855.45.
On the National Stock Exchange, the blue chip stock ended at Rs 868.50, down 0.23 per cent from the previous close.
The bellwether stock has lost nearly 18 per cent this year. "The valuation of the stock is attractive at the moment but, despite that it is not being able to attract investors. But, if the bullish trend in the market persists, RIL will definitely participate in the party," Unicon Financial Services CEO Gajendra Nagpal said.
However, another group company Reliance Industrial Infrastructure Ltd (RIIL) gained 1.61 per cent to settle at Rs 519.10 on the BSE.
The BSE index Sensex advanced by 513.19 points, or 2.89 per cent to settle at 18,240.68. There were only two losers - RIL and Reliance Infra - among the Sensex stocks.
Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
Shares of the market behemoth closed down by 0.03 per cent at Rs 870.40 on the Bombay Stock Exchange on Friday. 
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