Markets end the day with tiny losses even as heavyweight RIL tanks 7%

Despite falling for three consecutive sessions, both the Sensex and Nifty added 0.3 per cent for the week, their second straight weekly advance

Benchmark equities only suffered marginal losses even as shares of Reliance Industries (RIL), which has the highest weighting, tanked over 7 per cent. The benchmark Sensex closed 111 points, or 0.21 per cent lower at 52,908, while the Nifty closed 28 points, or 0.2 per cent, lower at 15,752.

Shares of RIL fell 7.3 per cent to close at Rs 2,406. The stock dragged the Sensex lower by 565 points. In other words, if not for RIL’s steep correction, the index could have closed nearly 500 points higher. Shares of ONGC, which is part of Nifty but not Sensex, fell 13.3