RIL leads 248-point Sensex fall -28th Aug-08

Intense selling in index heavyweight Reliance Industries (RIL) and bank stocks triggered a sell-off in late trade. The BSE 30-share Sensex lost 248.45 points. Concerns of high inflation and steady rise in crude oil prices for three consecutive sessions weighed on the sentiments. Volatility was high in the second half of the trading session ahead of the expiry of August 2008 derivatives contracts. The market breadth was weak.