Mukesh Ambani's twins Akash Ambani and Isha Ambani are celebrating their birthday on October 23 (Wednesday). However, just before their special day, Reliance Industries' stock saw a drop of 1.86% (Rs 50.95), closing at Rs 2,687.30. This decline resulted in a significant market capitalization loss of Rs 34,473.43 crore, bringing the company's market cap down to Rs 18,18,262.08 crore from Rs 18,52,735.51 crore the previous day.
As of October 22, 4:02 PM, Reliance Industries' shares were trading at Rs 2,687.30, down 1.86% from the prior close. The Sensex index also experienced a decline, trading at Rs 80,220.72, down 1.15%. Throughout the day, Reliance's stock reached a high of Rs 2,751.90 and a low of Rs 2,680.80.
On the technical side, Reliance’s stock is currently trading below several key short-term and long-term simple moving averages, including the 5, 10, 20, 50, 100, and 300-day averages.
In broader market news, investor wealth took a major hit, with Rs 9.19 lakh crore wiped out on Tuesday as markets faced significant sell-offs. The BSE Sensex index plunged 930.55 points, or 1.15%, to settle at 80,220.72. Earlier in the day, it had dropped even further by 1,001.74 points, or 1.23%, to 80,149.53. The total market capitalization of BSE-listed companies dropped by Rs 9,19,374.52 crore, reaching Rs 4,44,45,649.22 crore (USD 5.29 trillion).
With PTI inputs
