Reliance Industries Shares Fall To One-Month Low, Investors Lose More Than Rs 44,000 Crore
Apart from Reliance Industries, other heavyweight stocks like Larsen & Toubro Ltd. and HDFC Bank Ltd. also contributed to the loss in the Nifty.
Shares of Reliance Industries Ltd. saw a significant drop on Friday, hitting a one-month low. The decline eroded investors wealth by more than more than Rs 44,000 crore and dragged the benchmark indices, which erased gains to close lower, thanks to profit-booking and caution ahead of US non-farm payroll data.
The RIL stock closed 2.22% lower at Rs 2,868 apiece, as compared with Thursday's close at Rs 2,933.10 per share.
India's benchmark stock indices fell during midday on Friday, after the Nifty set a fresh life-time high and the Sensex was 30 points from its record high.
The NSE Nifty 50 ended 172.35 points, or 0.76%, lower at 22,475.85, and the S&P BSE Sensex fell 732.96 points, or 0.98%, to close at 73,878.15.
Apart from Reliance Industries, other heavyweight stocks like Larsen & Toubro Ltd. and HDFC Bank Ltd. also contributed to the loss in the Nifty, limiting weekly gains in both the Nifty and Sensex.
