Reliance Industries shares experienced their sharpest single-day decline since June 2024, falling over 4.5% on Tuesday. This drop was attributed to multiple factors including concerns over intensifying retail sector competition, highlighted by peer performance and analyst commentary, and uncertainty surrounding crude oil sourcing, specifically the halt in Russian oil purchases. Global geopolitical concerns and brokerage actions also contributed to the sell-off, impacting broader market indices due to Reliance's significant weighting.