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Reliance Industries shares tumble 4 pc mcap tanks by Rs 68,404 cr
Highlights
- Even a giant company like Reliance could not remain untouched by the outcry in the market.
- Reliance Industries shares fell 4 percent due to strong fall in stock markets
- Market cap declined by Rs 68,404.59 to Rs 16,08,275.41 crore
New Delhi. Even a giant like Reliance cannot remain untouched by the outcry in the Indian stock markets on Monday. The stock of Reliance Industries fell 4 percent due to a strong fall in the stock markets. The company’s market cap also declined sharply due to a sharp fall in the share price. The company’s market cap declined by Rs 68,404.59 to Rs 16,08,275.41 crore on the BSE.
During the trading on Monday, there was a lot of volatility in the stock of Reliance. During the day’s trading, the stock of the largest Sensex company had climbed up to one percent at one time. Later it declined. The company’s quarterly performance for October-December, 2021 has been the best ever. The company’s stock rose 1.04 per cent to Rs 2,504.10 in early trade on the BSE. However, it later lost initial gains.
At the close of the market, the stock of Reliance Industries reached Rs 2,377.55 with a loss of 4.06 percent on the BSE. The company’s stock closed at Rs 2,379.90, down 3.95 per cent on the National Stock Exchange. During the day’s trading, it had gone up to Rs 2,504.75 with a gain of 1.08 per cent.
Monday proved to be Black Monday for the investors in the stock market. The market was rocked by selling by domestic and foreign investors. During trading, the Sensex broke down to 2000 points, then the Nifty had also gone below the psychological level of 17,000. However, there was a slight improvement later, due to which the BSE Sensex lost 1,545.67 points to 57,491.51 and Nifty closed at 17,149.10 with a loss of 468.05 points.
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