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Extending its fall for the fourth day in a row, Reliance Industries Ltd (RIL) on Friday tumbled over 3 per cent on the BSE, leading the plunge in the benchmark Sensex.
Heavy selling by the jittery investors saw the shares of Mukesh Ambani-led energy major shedding 3.02 per cent to close at Rs 914.50 a piece on the Bombay Stock Exchange. The scrip fell by 4.23 per cent to touch a month-low of Rs 903.10 intra-day. The heavy-weight counter has plummeted by 7.29 per cent in the four straight trading sessions.
RIL counter witnessed a similar downside on the National Stock Exchange, as the scrip tanked by 2.64 per cent to finish the day at Rs 917.80. In terms of volume, over 97 lakh shares of the company were traded on the bourses.
“The investors were rattled by fears of persistent FII outflows amid macro-economic headwinds,” IIFL Head of Research Mr Amar Ambani said.
Significant weakness in the RIL shares was also instrumental in the fall of the benchmark Sensex as the company carries the maximum weight on the key index.
The 30-share index extended the losing streak to third straight trading session, and witnessed a nearly 5-month low level at 18,395.97, down 288.46 points from previous close.
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