Reliance Industries faced a sharp decline in share prices losing Rs 80,000 crore in market capitalization.
Shares of Reliance Industries, led by Mukesh Ambani, experienced a significant decline as the Indian stock market faced a steep downturn. On September 30, the Sensex dropped by 1,100 points, affecting major companies, including Reliance Industries. The company's shares fell sharply, resulting in a loss of approximately ₹80,000 crore in market capitalization.
On that day, Reliance Industries saw its share price decline by 3%, with a drop of 3.35% recorded on the Bombay Stock Exchange (BSE). The downward trend continued into the following week, with shares falling another 0.89% to Rs 2,927. This resulted in a market cap that plummeted to Rs 67,000 crore by Monday, and an additional loss of Rs 12,000 crore on Tuesday.
The fluctuations in Reliance's share prices over the past few days created a mixed reaction among investors, leading to losses for many due to the recent dips. The broader Indian stock market also showed signs of strain, with the Sensex falling over 1,000 points during early trade on Monday, and the Nifty index dropping about 300 points. Key sectors such as banking, auto, financial services, and real estate were among the hardest hit.
Prior to this sharp decline, Indian stock indices had been experiencing gains, with the market logging six consecutive sessions of highs. However, by the end of that week, profit booking appeared to take hold, leading to a marginal downturn in trading. This volatility continues to challenge investors and raises concerns about future market stability.
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