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3.30 p.m: Likelihood of an adjournment motion in the parliament which will expose the strength of the ruling party over the retail FDI issue led to a sell of in retail counters. Pantaloon closed the day 12 percent lower at Rs 196.35, while Koutons was down 6.8 percent at Rs 20.45.
Sensex closed the day at 16,008 down 159 points while Nifty closed at 4805 down 46 points.
Telecom major Bharti Airtel fell by 3.8 percent to Rs 372.75 on delay in the retail FDI front and on account of certain accounting treatment made by the company in its annual reports. Though the company has clarified on the issue, the stock failed to recover the lost ground. Bharti closed the day at Rs 372.75, down by 3.81 percent.
Reliance closed the day 2.8 percent lower at Rs 761.60. Tata Motors also closed the day 2.8 percent lower at Rs 176.80.
Everonn moved up sharply by the end of the day after Sebi cleared its open offer. The stock closed 13 percent higher at Rs 356.50.
Source: Firstpost