Stock Market LIVE Updates: Sensex, Nifty slip for 3rd day as fag-end rebound loses steam; RIL tumbles 7% post oil export tax

Shares of Reliance Industries tumbled over 7 per cent on Friday, with its market valuation falling by Rs 1.25 lakh crore, after the federal government imposed an export tax on petrol, diesel, and jet gasoline (ATF). The federal government on Friday slapped an export tax on petrol, diesel and jet gasoline whereas additionally becoming a member of nations just like the UK in imposing a windfall tax on crude oil produced domestically.