Reliance hits 52-week low, sends markets sliding for 6th day
Reliance Industries shares tumbled over 3% on Wednesday, hitting a 52-week low of ₹1,193.65 on the BSE. This marks the fourth straight session of losses for the stock. Heavy selling pressure continues, with Reliance shares dropping over 6% in a week and more than 17% in a year.
High trading volumes accompanied the decline. Around 72 lakh Reliance shares changed hands on February 12, nearing its one-week average of 93 lakh shares. Investors continue to offload the energy-to-telecom giant’s stock, deepening the market slump.
The fall in Reliance, a market heavyweight, has dragged Indian stock indices lower. Sensex plunged over 800 points in morning trade, while Nifty 50 slipped below 22,900, declining more than 1%. The ongoing sell-off has extended the market’s losing streak to six sessions.
As stock values eroded, the total market capitalisation of BSE-listed companies fell to ₹400.5 lakh crore from ₹408.5 lakh crore in the previous session. Investors lost nearly ₹8 lakh crore in a single day, reflecting broader market concerns amid mixed global cues.
Reliance’s continued slide signals caution among investors, keeping market sentiment bearish.
