Reliance Industries Ltd (RIL) shares witnessed a steep fall on Monday, touching a 52-week low of ₹1,115.55, marking a significant downturn in India’s largest company by market cap. The stock declined 7.4% intraday, driven by a broader global selloff sparked by rising trade tensions and recession fears in the U.S.
With this sharp drop, RIL has lost 12.7% over the past six trading sessions, erasing a staggering ₹2.26 lakh crore in market capitalisation. The company’s current market cap stands at ₹15.49 lakh crore, highlighting the impact of global uncertainty on domestic blue-chip stocks.
Market Crash Mirrors Global Sentiment
The decline in RIL mirrors the overall weakness in Indian equities. On Monday, both the Sensex and Nifty plunged nearly 5% at the open, marking their biggest single-day percentage drop since March 2020. The panic wasn’t limited to Indian markets — Asian indices also took a hit, with MSCI Asia ex-Japan down 6.8% and Japan’s Nikkei 225 falling 6.5%.
What’s fueling this widespread selloff? Growing concerns of a prolonged global trade war, with signs of retaliation from China, have unnerved investors worldwide.
RIL’s Technical Indicators Signal Weakness
From a technical standpoint, RIL remains under selling pressure, trading below all eight key simple moving averages—including the 50-day, 150-day, and 200-day SMAs. The 14-day Relative Strength Index (RSI) has dropped to 37.9, inching closer to oversold territory, indicating bearish sentiment among traders.
Over different time frames, the performance looks concerning:
Down 21.6% over the past year
Down 17.4% in the last 6 months
Down 10% just this past week
What Lies Ahead?
With volatility likely to persist, investors and analysts will closely watch for global developments, especially around trade talks and economic indicators in the U.S. For now, RIL’s downward momentum is a reflection of the broader market fear, not just company-specific fundamentals.
