Reliance Industries shares drop over 3%; market valuation erodes by Rs 66,819.76 cr

New Delhi: Shares of Reliance Industries dropped more than 3 per cent on Monday, wiping out Rs 66,819.76 crore from its market valuation and dragging the benchmark indices lower.

The market heavyweight stock slumped 3.23 per cent to settle at Rs 2,953.80 apiece on the BSE. During the day, it tanked 3.35 per cent to Rs 2,950.

On the NSE, it dropped 3.13 per cent to Rs 2,956.70 per share.

The stock was the biggest laggard among the BSE Sensex firms.

The company's market valuation eroded by Rs 66,819.76 crore to Rs 19,98,503.98 crore.

The BSE benchmark Sensex tumbled 1,272.07 points or 1.49 per cent to settle at 84,299.78. During the day, it plunged 1,314.71 points or 1.53 per cent to 84,257.14.

The NSE Nifty tanked 368.10 points or 1.41 per cent to 25,810.85.