Reliance Industries shares drop nearly 4%; market valuation erodes by Rs 77,606.98 crore

Shares of Reliance Industries on Thursday slumped nearly 4 per cent, wiping out Rs 77,606.98 crore from its market valuation, amid mayhem at the Dalal Street due to rising conflict in the Middle East and unabated foreign fund outflows. The bellwether stock declined 3.91 per cent to settle at Rs 2,815.25 on the BSE. During the day, it tumbled 5.28 per cent to Rs 2,775.

At the NSE, it dropped 3.94 per cent to Rs 2,813.95.

The company's market valuation eroded by Rs 77,606.98 crore to Rs 19,04,762.79 crore.

The stock was the major contributor in markets' fall on Thursday.

Shares of the firm have been on a downtrend for the third day running, falling 7.76 per cent.

The BSE Sensex tumbled 1,769.19 points or 2.10 per cent to settle at 82,497.10. During the day, it plummeted 1,832.27 points or 2.17 per cent to 82,434.02. The NSE Nifty slumped 546.80 points or 2.12 per cent to 25,250.10.