Ambani-Bezos tug of war weighs on Sensex; Rs 1.92 lakh crore gone

NEW DELHI: The tug of war between Mukesh Ambani-led Reliance Industries NSE -0.40 % and Jeff Bezos’ Amazon over Future Group weighed on domestic equity markets on Monday. Meanwhile, weak global cues, lack of clarity on US stimulus and rising Covid cases in Europe and the US also dampened the investor sentiments.

Reliance Industries was the biggest drag on bluechip indices as investors dumped shares fearing it may not be able to complete the acquisition of Future Group assets. Selloff in banking and auto shares also deepened the market crash.