Reliance shares fall 4.6 per cent, market value drops by Rs 87,014 crore

Reliance Industries shares fell over 4 per cent on Friday, eroding Rs 87,014 crore in market value amid a broader market decline. Rising crude prices, policy changes, and global uncertainty contributed to the sharp fall in the heavyweight stock

New Delhi: Shares of Reliance Industries faced heavy selling on Friday and tumbled 4.6 per cent, with an erosion of Rs 87,014 crore in its market valuation, in tandem with a bearish trend in the stock market.

The bellwether stock tanked 4.55 per cent to settle at Rs 1,348.25 on the BSE. During the day, it dropped 4.78 per cent to Rs 1,345.

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At the NSE, the stock tumbled 4.59 per cent to end at Rs 1,348.10.

The sharp decline in the stock wiped out Rs 87,013.8 crore from its market valuation, which stood at Rs 18,24,515.62 crore.

The drop in the heavyweight stock was also instrumental in driving the markets lower.

The 30-share BSE Sensex tanked 1,690.23 points, or 2.25 per cent, to settle at 73,583.22. The 50-share NSE Nifty dropped 486.85 points, or 2.09 per cent, to end at 22,819.60.

“Indian markets witnessed a sharp and uneasy session, with heavyweight energy stocks leading the decline amid a complex mix of policy changes, rising crude prices, and persistent geopolitical uncertainty. Shares of Reliance Industries fell over 4 per cent, reflecting how sensitive large-cap valuations have become to shifts in the global energy landscape,” Hariprasad K, Research Analyst and Founder, Livelong Wealth, said.

The war in the Middle East has pushed international oil prices up by 50 per cent to over USD 100 per barrel this month.

Meanwhile, the government imposed an export duty of Rs 21.50 per litre on diesel and Rs 29.50 per litre on aviation turbine fuel (ATF), reinstating a levy first introduced in July 2022 to curb windfall gains by refiners following Russia’s invasion of Ukraine. The duty was later withdrawn in December 2024.