Stock In Focus: Reliance Share Price Dropped 6%, Tata Motors Share Price Slipped 5% in Last 5 Days

The rising conflict in the Middle East is having a significant impact on the Indian stock market. The conflict has led to rising oil prices, which is a major concern for India as it is a major importer of crude oil. This has put pressure on the Indian rupee, which has depreciated against the US dollar. This is likely to increase the cost of imports for Indian companies, which could lead to higher inflation. The growing conflict has also led to increased geopolitical uncertainty, which is causing investors to become more risk-averse.

This has led to a sell-off in the Indian stock market, with the benchmark indices Sensex and Nifty falling sharply lately. Foreign investors have also been net sellers of Indian equities by selling securities worth ₹15,243.27 crore on October 03, which has further pushed the decline in the market.

On October 04, 2024, at 09:16 AM, Sensex opened flat with a positive bias at 82,507, while Nifty traded in red at 25,213. However, At 11:50 AM, the markets revived and Nifty and Sensex were trading at 25,323.05, up 0.29% and 82,806.37, up 0.37%, respectively. Considering the ups and downs in the market, let us now have a look at a few stocks in focus:

Reliance Industries Limited

The leading Indian conglomerate, Reliance Industries shares opened at ₹2,814.00 and touched the day low of ₹2,766.00 at 11:55 AM. In the last 5 days, Reliance share price witnessed a drop of 6% and recorded a fall of 4% in the past 6 months. 

Suzlon Energy Limited

On October 04, Suzlon shares opened at ₹74.66 and touched the day high of ₹76.66 at 12:00 PM. Suzlon Energy shares revived from the dip due to the advisory warnings by NSE and BSE. In the last 5 days, Suzlon share price slipped ~7% but provided a return of 77.33% in the past 6 months.

Tata Motors Limited

Tata Motors shares soared over 2% on October 4 at 12:05 PM. Tata Motors’ share price opened at ₹933.85 and reached the day high of ₹947.80. In the last 5 days, Tata Motors share price dropped ~5% and slumped ~7% in the past 6 months. During September 2024, Tata Motors recorded a drop of 15% in auto sales to 69,694 units.

Tata Steel Limited

Tata Steel shares opened at ₹166.75 and touched the day-high of ₹169.10 on October 4, 2024. Tata Steel share price rose 1.20% in the past 5 days and 3.11% in the last 6 months.

IRFC Ltd

IRFC shares opened at ₹151.50 and reached the day high of ₹153.45 at 12:15 PM on October 04. The IRFC share price dropped ~3% in the last 5 days and soared 5.64% in the past 6 months.

Conclusion

The Indian stock market is witnessing steep volatility due to the rising conflict in the Middle East. This may result in steep ups and downs in stock prices. Hence, proper research should be done before investing.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.