New Delhi: Shares of Reliance Industries Ltd (RIL) ended over 4 per cent down on Tuesday and were instrumental in dragging the benchmark equity indices lower.
The stock edged lower by 4.42 per cent to end at Rs 1,507.70 on the BSE. During the day, it dropped 5 per cent to Rs 1,497.05. At the NSE, the stock declined by 4.46 per cent to settle at Rs 1,507.60. During the day, it tanked 5.18 per cent to Rs 1,496.30.
The company’s market capitalisation (mcap) eroded by Rs 94,388.99 crore to Rs 20,40,290.90 crore in a single day.
“Stock-specific pressure added to the weakness, as Reliance Industries fell over 4 per cent, its steepest intra-day decline in more than eight months,” Siddhartha Khemka - Head of Research, Wealth Management, Motilal Oswal Financial Services Ltd, said.
Selling in the blue-chip stock dragged the benchmark indices Sensex and Nifty lower. The 30-share BSE Sensex dropped 376.28 points or 0.44 per cent to settle at 85,063.34. The 50-share NSE Nifty declined 71.60 points or 0.27 per cent to end at 26,178.70.