Market Movers Friday: RIL, HDFC Bank And HEG Lead The Action

Indian benchmark indices ended their two-day rally with heavy losses on March 27, 2026. The Sensex fell 1,690 points to 73,583.22, while the Nifty 50 dropped 486 points to 22,819.60. Energy and banking stocks bore the brunt of the sell-off as investors reacted to global uncertainties.

Reliance Industries Hit By Windfall Tax
Shares of Reliance Industries (RIL) plunged 4.6% to ₹1,347.50 after the government reintroduced windfall taxes on diesel and ATF exports. The move erased over ₹82,000 crore in market value, making RIL one of the biggest losers of the day.

HDFC Bank Under Pressure
HDFC Bank shares slipped amid broad weakness in financials. Concerns over rising bond yields and liquidity stress weighed on the banking sector, with heavy selling seen in blue-chip lenders.

HEG Gains On Strong Demand
Graphite electrode maker HEG bucked the trend, rising on expectations of robust demand from steel producers. Analysts highlighted that global supply constraints are supporting electrode prices, boosting investor sentiment around the stock.

Key Highlights

• Sensex fell 1,690 points, Nifty dropped 486 points
• RIL lost over ₹82,000 crore in market cap
• HDFC Bank dragged by sector-wide weakness
• HEG gained on strong electrode demand
• Crude oil spike and rupee weakness fueled volatility
• Over ₹10 lakh crore wiped off in market value

Sources: Economic Times, MSN, News Air Insight