(Jan 6): Reliance Industries Ltd’s shares tumbled after analysts warned of rising competition in the retail sector, where the Mukesh Ambani-controlled conglomerate is a major player. Shares of the oil-to-telecom major closed 4.5% lower on Tuesday (Jan 6), marking its worst day since June 2024. The selloff also weighed on the nation’s key stock gauges, where Reliance has the second-biggest weighting, causing them to trail regional markets. The selloff erased more than US$10 billion (RM40.53 billion) in market capitalisation for the country’s largest firm by market value. Reliance shares jumped 29% in 2025, beating the benchmark NSE Nifty 50 Index’s 11% gain.

Source: The Edge Markets January 06, 2026 10:39 UTC