HomeCURRENT AFFAIRSBUSINESSShares fall as Reliance drags stocks lower

Shares fall as Reliance drags stocks lower

In a major development to the Indian share market, the national shares have slipped on Monday as the Ambani heavyweight Reliance industries led energy stocks lower. Nifty index also dropped 0.61% to 17,656.20 where as S&P BSE Sensex fell 0.65 to 59,250.74 by 9:30 am.

Shares of Mukesh Ambani-led Reliance Industries fell 3.71% after the oil giant said last week it had decided with Saudi Aramco to reevaluate a proposed $15 billion stake sale in its oil-to-chemicals arm to Saudi Aramco.

Asian stocks opened lower as investor evaluated oil prices, COVID-19 restrictions in Europe and talk of hastened tapering from U.S Federal Reserve.

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