Reliance Industries fell ~4.4%, wiping out ~₹82,000 crore in market cap after the return of windfall tax on fuel exports.
This isn’t just stock-specific.
Given RIL’s heavy weight in the index, moves like this can pull the broader market lower and weigh on overall sentiment.
At a time when macros are already fragile (oil, geopolitics, volatility), a heavyweight like RIL correcting adds extra pressure on Nifty itself.
