Indian shares drop over 1 pct as Reliance sinks

October 20, 2018 / in.investing.com / Article Link

* NSE index down 1.4 pct, BSE index 1.3 pct

* Both indexes end the week lower

* Reliance Industries down over 4 pct

Oct 19 (Reuters) - Indian shares fell over 1 percent for the second consecutive session on Friday, dragged by Reliance Industries Ltd RELI.NS after its second-quarter performance failed to please investors, while non-banking finance companies continued to face selling pressure.

The benchmark BSE index .BSESN closed down 1.33 percent at 34,315.63, shedding 1.2 percent over the week.

The broader NSE index .NSEI ended 1.43 percent lower at 10,303.55. It fell 1.6 percent during the week.

Shares of Reliance Industries took a severe hit, ending down over 4 percent lower on concerns of its heavy debt and delay in the company's key refining project, while its gross refining margin fell. midday report click

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