At 1:40 PM today, Reliance Industries saw its stock price fall by 3.37% to ₹2,831.00, wiping off ₹66,783 crore from its total market capitalization. The company’s market cap now stands at ₹19,15,419.43 crore.
Stock performance details
- Open: ₹2,873.15
- High: ₹2,898.80
- Low: ₹2,826.90
- Previous close: ₹2,929.65
Reliance Industries opened at ₹2,873.15, briefly reaching a high of ₹2,898.80 before dropping to a low of ₹2,826.90 in today’s session.
Market sentiment and Middle East tensions weigh on Reliance Industries’ stock
The decline in Reliance Industries’ stock is attributed to a combination of weak market sentiment and concerns arising from the escalating Iran-Israel conflict. The rising crude oil prices, driven by fears of supply disruptions from the Middle East, have added further pressure on companies like Reliance, which is heavily involved in refining and petrochemicals.
Investors are becoming cautious, and the uncertainty around global energy markets is negatively impacting Reliance Industries’ stock performance. As crude oil prices climb, costs are expected to rise, which could impact the company’s profitability moving forward.
Disclaimer
Investing in stocks involves risks, and stock prices are subject to market fluctuations. Please do your own research or consult with a financial advisor before making any investment decisions. The information provided in this article is for informational purposes only and does not constitute investment advice. The author and publication are not responsible for any losses incurred based on the information provided in this article.
