Shares of Mukesh Ambani’s Reliance Industries saw a steep decline today. As the shares of the largest company in the country fell heavily and the trend of the stock market also changed, a huge fall was seen in no time. The BSE Sensex was trading at 84,465.69, down 1100 points or 1.30 per cent at 1.50 pm. The Nifty was trading down 318.35 points or 1.22 percent at 25,860.60. Apart from this, the rest of the indices remained in losses.
Shares of Reliance Industries were trading at Rs 2958.65, down 3.07 per cent on Monday. In last five days this stock has fallen 0.83%, in one month this stock has fallen 2.02%. The share returned only 0.5 percent in six months. Sensex and Nifty came under pressure due to a big fall in RIL on Monday, as the company is India’s largest company by market capitalization, with a market cap of Rs. 19.31 lakh crores.
Why did shares of Reliance Industries fall?
Shares of Reliance Industries has a 52-week high of Rs.3,217.60 and a 52-week low of Rs.2,220.30. Shares of Reliance Industries have returned 27.52% in one year. Profit booking is said to be the main reason behind the fall in Reliance Industries shares today. Shares of Reliance Industries came under pressure due to profit booking, which fell 3 percent.
These heavyweight shares also fell
Besides Reliance Industries, heavyweight stocks like ICICI Bank, Tech Mahindra, Axis Bank, HDFC Bank and SBI also declined by up to 3 percent on strong profit booking in the market. Among the top 30 BSE Sensex stocks, 25 were trading under heavy pressure, with shares of Reliance Industries among the top losers.
In the stock market of Japan there is also excitement
Signs of this massive fall are already visible in the Indian stock market. In fact, global indicators seem sluggish due to Japan and the impact was evident when the market opened. If we talk about the global market, there was a decline in the Japanese stock market and the Nikkei index fell by 4 percent. Ongoing political turmoil is seen as a large role in the decline of the Japanese stock market. In fact, Japan’s ruling Liberal Democrats have elected former Defense Minister Shigeru Ishiba as the next Prime Minister (Japan’s new PM), replacing incumbent Prime Minister Fumio Kishida, who has resigned.
(Note- Before investing in any share, definitely take the help of a financial advisor.)
