<p>New Delhi: Shares of <a href="https://www.deccanherald.com/tags/reliance-industries">Reliance Industries</a> faced heavy selling on Friday and tumbled 4.6 per cent, facing an erosion of Rs 87,014 crore from its market valuation, in-tandem with a bearish trend in the stock market.</p>.<p>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.</p>.<p>At the <a href="https://www.deccanherald.com/tags/national-stock-exchange">NSE</a>, the stock tumbled 4.59 per cent to end at Rs 1,348.10.</p>.<p>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.</p>.<p>Drop in the heavyweight stock was also instrumental in driving the markets lower.</p>.Reliance buys 5 million barrels of Iranian oil after US waiver, sources say.<p>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.</p>.<p>"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.</p>.<p>The war in the <a href="https://www.deccanherald.com/tags/middle-east">Middle East</a> has pushed international oil prices up by 50 per cent to over USD 100 per barrel this month.</p>.<p>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 The duty was later withdrawn in December 2024. PTI SUM TRB TRB</p>
<p>New Delhi: Shares of <a href="https://www.deccanherald.com/tags/reliance-industries">Reliance Industries</a> faced heavy selling on Friday and tumbled 4.6 per cent, facing an erosion of Rs 87,014 crore from its market valuation, in-tandem with a bearish trend in the stock market.</p>.<p>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.</p>.<p>At the <a href="https://www.deccanherald.com/tags/national-stock-exchange">NSE</a>, the stock tumbled 4.59 per cent to end at Rs 1,348.10.</p>.<p>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.</p>.<p>Drop in the heavyweight stock was also instrumental in driving the markets lower.</p>.Reliance buys 5 million barrels of Iranian oil after US waiver, sources say.<p>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.</p>.<p>"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.</p>.<p>The war in the <a href="https://www.deccanherald.com/tags/middle-east">Middle East</a> has pushed international oil prices up by 50 per cent to over USD 100 per barrel this month.</p>.<p>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. PTI SUM TRB TRB</p>