Heavy Selling Pressure Weighs on Benchmark Indices
Shares of Reliance Industries came under sharp selling pressure on Tuesday morning, falling by more than 5 percent and emerging as a key drag on the broader equity markets.The blue chip stock slipped 5 percent to Rs 1,497.05 on the BSE. On the NSE, Reliance Industries declined 5.18 percent to Rs 1,496.30.
Benchmarks Trade in the Red
The steep fall in Reliance Industries weighed heavily on benchmark indices during early trade. The 30 share BSE Sensex was trading 441.05 points lower at 84,998.57, while the 50 share NSE Nifty was down 99.50 points at 26,151.25.Stock Retreats After Recent Peak
The decline follows a strong previous session in which Reliance Industries touched its record high of Rs 1,611.20. The sharp reversal on Tuesday made the stock one of the biggest contributors to the fall in the benchmark indices during the morning session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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