Markets fall for third day amid sell-off in RIL; Sensex falls 500 points

Over the last three sessions, the BSE Sensex has lost 1,444.53 points or 2.90 per cent and the NSE Nifty has shed 405.80 points or 2.8 per cent

The Indian markets fell for a third day on Monday amid sell-off in index heavyweight Reliance Industries (RIL) even as most global markets posted gains on optimism around fresh stimulus in the US. Market players said worries that the government might increase taxes on stock market transaction in the Union Budget also weighed on the sentiment.

After swinging nearly 1,000 points, the BSE benchmark settled with a loss of 530.95 points or 1.09 per cent at 48,347.59. The broader Nifty fell 133 points or 0.93 per cent to end the session at 14,238.9. Shares of RIL fell nearly 6 per cent