May 31 2020
BSE Sensex edges lower; RIL falls
08 October 2012

Asian stocks edge lower and other riskier assets such as commodities fall as investors remained cautious about the outlook for the global economy and corporate earnings despite better-than-expected U.S. jobs numbers at the end of last week.

Reliance Industries falls 1.8 percent after Morgan Stanley cuts its rating to 'underweight' from 'equal-weight', citing expectations for weaker refining margins and valuation concerns among other factors.

Housing finance companies gain after India's markets regulator on Saturday allowed debt-oriented mutual funds to invest up to 10 percent of their net assets in housing finance companies.

LIC Housing Finance (LICH.NS) gains 1.7 percent, Housing development and Finance Corp is up 0.6 percent.



Related Stories