Reliance Shares Hit 52-Week Low, Drag Market Down

Reliance Industries share price fell by over 3% on Wednesday, hitting a 52-week low. The shares dropped as much as 3.31%, reaching ₹1,193.65 on the BSE. This marked the fourth consecutive session of decline.

Heavy Selling Pressure and Declining Volumes

Reliance’s shares are under heavy selling pressure, with trading volumes higher than usual. On February 12, around 72 lakh shares were traded, compared to the one-week average of 93 lakh shares. Over the past week, Reliance’s stock has fallen more than 6%, and it’s down over 3% in the last month. On a yearly basis, the stock has dropped by more than 17%.

Impact on Indian Stock Market

Reliance’s decline is also affecting the broader Indian market. The stock has fallen in 5 out of the last 6 trading sessions, dragging down the Sensex, which lost over 800 points on Wednesday. The Nifty 50 also fell by more than 1%, slipping below the 22,900 level.

Market Capitalisation Drops

The overall market capitalisation of BSE-listed companies decreased from ₹408.5 lakh crore to ₹400.5 lakh crore. Investors lost nearly ₹8 lakh crore in just one day.

About Reliance Industries Limited

Reliance Industries Limited is a large Indian company based in Mumbai, Maharashtra. It operates in various industries, including energy, petrochemicals, natural gas, retail, entertainment, telecommunications, media, and textiles.

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