July 29, 2020 / 4:31 AM / 8 days ago

Indian shares fall as Reliance, energy stocks drag

BENGALURU, July 29 (Reuters) - Indian shares edged lower on Wednesday, as a fall in the country’s most valuable stock Reliance Industries dragged the energy index, with IT stocks also contributing to the losses.

The NSE Nifty 50 index fell 0.16% to 11,283.35 and the S&P BSE Sensex was down 0.21% at 38,405.32 by 0414 GMT.

Reliance shares fell about 1.5% after an eight-day rally, dragging the Nifty energy index down 0.4%.

Oil refiners Bharat Petroleum Corp also fell 1.5%, while Indian Oil Corp shed 0.7%.

The Nifty IT index dropped 0.13%, led by losses in Infosys, which fell 0.9%, and HCH Technologies , which dropped about 1%.

Port operator APSE Ltd was the session’s top laggard, falling 1.1%.

Indusind Bank advanced 4.4% and topped the gainers on the Nifty after the company announced a fund raise, amid a quarterly profit slump. (Reporting by Derek Francis in Bengaluru; Editing by Krishna Chandra Eluri)

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