Reliance Industries' shares plunge over 5% ahead of Q3 result, m-cap down by Rs 17,779 crore

Reliance Industries shares plunged over 5%, which wiped out Rs 17,779 crore from its market valuation on Monday, ahead of the company's third quarter earnings on Tuesday.

The stock went down 5.14% to settle at Rs 1,018 on BSE. Intra-day, it tumbled 5.87% to Rs 1,010.10. The bellwether was the top loser on the 30-share Sensex, which dragged down the benchmark. On NSE, shares of the company slumped 5.25% to Rs 1,016.85.

Owing to the decline in the stock, the company's market valuation came down by Rs 17,779.3 crore to Rs 3,29,751.70 crore. Volume-wise, 5.77 lakh shares of the company changed hands on BSE and over 62 lakh on NSE during the day.

The stock also saw pressure as crude oil slipped below the $28 per barrel mark. In the broader market, the Sensex ended at 24,188.37, down 266.67 points, or 1.09%.