Reliance Industries shares down over 4%; market valuation erodes by Rs 94,389 cr

New Delhi: Shares of Reliance Industries ended over 4 per cent down on Tuesday and were instrumental in dragging the benchmark equity indices lower.

The blue-chip stock edged lower by 4.42 per cent to end at Rs 1,507.70 on the BSE. During the day, it dropped 5 per cent to Rs 1,497.05.

At the NSE, the stock declined by 4.46 per cent to settle at Rs 1,507.60. During the day, it tanked 5.18 per cent to Rs 1,496.30.

The company's market valuation eroded by Rs 94,388.99 crore to Rs 20,40,290.90 crore in a single day.

"Stock-specific pressure added to the weakness, as Reliance Industries fell over 4 per cent, its steepest intra-day decline in more than eight months," Siddhartha Khemka - Head of Research, Wealth Management, Motilal Oswal Financial Services Ltd, said.

Selling in the blue-chip stock dragged the benchmark indices Sensex and Nifty lower.

The 30-share BSE Sensex dropped 376.28 points or 0.44 per cent to settle at 85,063.34. The 50-share NSE Nifty declined 71.60 points or 0.27 per cent to end at 26,178.70.

The company's stock hit its record high of Rs 1,611.20 in the previous trade. Last year, the stock jumped over 29 per cent.

Reliance Industries Ltd, the operator of the world's largest single site oil refining complex and till recently India's biggest buyer of Russian oil, on Tuesday said it has not received any Russian barrels in almost three weeks and none are expected in January.

On November 20, 2025, Reliance had said it has halted the use of Russian crude at its export-only refinery in Jamnagar, Gujarat, as the company moves to comply with the European Union sanctions.

"Reliance Industries' Jamangar refinery has not received any cargo of Russian oil at its refinery in the past three weeks approx. and is not expecting any Russian crude oil deliveries in January," the company said in a statement.