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Indian benchmark indices decline on Monday

Indian benchmark indices decline on Monday

India Blooms News Service | 18 Jul 2016, 11:24 pm
Mumbai, Jul 18 (IBNS): The Indian benchmark indices wiped out the gains during the last hour of trading on Monday largely due to profit booking by investors, according to media reports.

Sensex fell 89.84 points to 27746.66 and Nifty fell 32.70 points to 8508.70.

ONGC and Oil India figured among the top losers on Monday after the news that they faced additional royalty burden of more than USD 1 billion and the government has decided that companies would have to pay royalty to crude producing states at pre-discount rates, according to media reports.

Share price of Hindustan Unilever fell following a disappointing revenue and volume growth in the first quarter, media reported . Profit increased 9.8 percent and revenue grew by 3.6 percent while volume growth stood at 4 percent against 6 percent in year-ago period and 4 percent in preceding quarter..

Other key losers included ICICI Bank, HDFC, SBI, Adani Ports, Cipla, Tata Steel, BHEL and GAIL.

Infosys, reversed its Friday performance, and emerged among the gainers. Other top stocks that ended Monday as gainers were Bajaj Auto, Axis Bank, Sun Pharma and Coal India.

Indian benchmark indices decline on Monday

India Blooms News Service
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