Mumbai: Reliance Industries Ltd ( RIL ) lost nearly Rs 1 lakh crore in market value in the past five sessions as the nervous mood in the market and bearish commentary from some brokerages pulled the stock down 11 per cent. Foreigners have pulled Rs 2,500 crore out of Indian stocks in the three days.“FIIs (foreign institutional investors) have turned negative in the market for the last few days. The market cap of TCS stood at Rs 8.01 lakh crore on Friday while that of RIL was Rs 7.93 lakh crore. A fall to (Rs) 1,080-1,100 levels would be a buy-on-dips opportunity,” said Nagaraj Shetti, technical research analyst at HDFC Securities. Sofat of IIFL said the stock would be a good buy at Rs 1,150.

Source: Economic Times May 11, 2019 04:07 UTC