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RIL drops, weak day for oil & gas counters

December 18, 2009

RELIANCE-OIL/Shares in Reliance Industries, India’s top listed firm, dropped over 2 percent on Friday and ended as the top loser among Sensex components.

Losses in Reliance contributed the most in dragging the benchmark lower by 174 points. The energy major’s shares have slipped nearly 5.5 percent over the week.

The oil & gas index also lost 1.74 percent. Eight of 11 components on the index, which has slipped 3.2 percent this month, closed in the red.

Some of the other stocks that slid were GAIL, which ended down over 2 percent, and IOC which slipped 1.8 percent.

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