Sensex falls 111 points; Reliance Industries tumbles over 7%
The Hindu
The government, on Friday, slapped an export tax on petrol, diesel and jet fuel.
Benchmark indices settled lower on Friday, with the Sensex declining 111 points on the back of a sharp fall in index heavyweight Reliance Industries.
The BSE benchmark went lower by 111.01 points or 0.21% to settle at 52,907.93. During the day, it tanked 924.69 points or 1.74% to 52,094.25.
The NSE Nifty dipped 28.20 points or 0.18% to close at 15,752.05.
The government, on Friday, slapped an export tax on petrol, diesel and jet fuel (ATF) while also joining nations like the U.K. in imposing a windfall tax on crude oil produced locally.
Among the Sensex pack, Reliance Industries tumbled 7.25%
PowerGrid, NTPC, Bharti Airtel, Maruti, Dr. Reddy's Laboratories and ICICI Bank were the other major laggards.
On the other hand, ITC, Bajaj Finance, Bajaj Finserv, Hindustan Unilever, Asian Paints, TCS and HDFC were among the major gainers.
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