Equity indices volatile, Reliance plunges 3.7 %

Equity benchmark indices swayed between gains and losses during early hours on Monday while their Asian peers were on an upward trajectory. At 10:15 am, the BSE SandP Sensex was down by 46 points or 0.09 per cent at 48,833 while the Nifty 50 edged lower by 13 points or 0.09 per cent to 14,359. Most sectoral indices at the National Stock Exchange were in the red with Nifty PSU bank, IT and realty dipping by 0.8 per cent each, auto by 0.7 per cent and metal by 0.5 per cent. Among stocks, Reliance Industries cracked by 3.7 per cent to Rs 1,973.90 per share after reports said the Mukesh Ambani-led conglomerate has spined off of the oil-to-chemical business into a new unit that will help it pursue growth opportunities with strategic partnerships. The other prominent losers were Asian Paints, Tata Motors, Nestle India, ITC, HCL Technologies, IndusInd Bank and Eicher Motors.