Reliance Industries Shares Hit 52-Week Low

Reliance Industries Ltd (RIL) shares experienced a significant drop, falling by 7.4% to a 52-week low of Rs 1,115.55. This decline is part of a broader six-day crash that has seen the company's stock value decrease by 12.7%, eroding Rs 2.26 lakh crore from its market cap.

Global Market Decline Triggers RIL's Fall

The downturn in RIL's shares comes amid a worldwide market decline, fueled by escalating trade disputes and growing concerns over a potential US recession. Indian equities mirrored this global trend, with the Sensex and Nifty witnessing their most significant single-day percentage decline since March 2020.

Technical Indicators Show Continued Pressure

From a technical standpoint, RIL's stock is under considerable pressure, trading below all eight primary simple moving averages. The 14-day Relative Strength Index is nearing oversold levels, indicating potential further declines.

Looking Ahead

Market confidence remains shaky, with fears of an extended global trade dispute and its impact on inflation and growth. Investors are advised to stay informed and consider the broader economic indicators when making investment decisions.