Nifty nears 9600, Sensex ranged; Anil Ambani Group stocks dive

Adani Group stocks: Adani Power shed 5 percent after posting a loss of Rs 4,960.5 crore in Q4FY17 against profit of Rs 1,085.1 crore in year-ago period.

Adani Enterprises, Adani Transmission and Adani Ports were also down 3-6 percent.

Market Check: Equity benchmarks continued to be volatile in afternoon trade, with the Nifty hovering around 9,600 level amid consolidation. FMCG and HDFC Group stocks gained while technology and select banks stocks were under pressure.

The 30-share BSE Sensex was up 46.75 points at 31,074.96 and the 50-share NSE Nifty rose 1.85 points to 9,596.95.

Anil Ambani Group stocks remained under pressure, especially after a media report indicated that as much as 10 banks have raised a red flag on Reliance Communications that posted a loss of Rs 1,285 crore in FY17.

Reliance Infrastructure, Reliance Defence and Reliance Communications tanked 6-18 percent.

About two shares declined for every share rising on the BSE.

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