Reliance Industries shares tank to 52-week low; RIL stock sheds Rs 2.26 lakh crore in market cap in 6-day crash

RIL share price today: Reliance Industries Ltd (RIL) shares plummeted by 7.4% to reach a 52-week low of Rs 1,115.55 on Monday, amid a worldwide market decline triggered by heightening trade disputes and growing concerns about a potential US recession.
The company's stock value has decreased by 12.7% across six trading sessions, resulting in a Rs 2.26 lakh crore reduction in market value. The current market capitalisation of RIL stands at Rs 15.49 lakh crore, according to an ET report.
On Monday, Indian equities experienced a sharp decline as anxieties about trade conflicts and US recession worries continued to affect global markets. The benchmark indices Sensex and Nifty witnessed their most significant single-day percentage decline since March 2020, falling approximately 5% at opening.
The decline in domestic markets reflected similar trends across Asia, with the MSCI Asia ex-Japan index declining 6.8% and Japan's Nikkei 225 falling 6.5%.
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The market downturn followed US President Donald Trump's Wednesday announcement of comprehensive tariffs, which unsettled investors and raised concerns about broader economic consequences.
On Friday, Federal Reserve Chair Jerome Powell noted that the tariffs were "larger than expected" and could notably affect inflation and growth, creating uncertainty about the US economic outlook. The Nasdaq entered bear market territory on Friday, accompanied by declining commodity prices, including oil.
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Market confidence deteriorated further due to indications of increasing Chinese retaliation, raising worries about an extended global trade dispute.
RIL shares have declined 21.6% over the past year, with decreases of 17.4% over six months and 5.3% over the past month. The past week alone saw a 10% reduction.
From a technical perspective, the stock faces continued pressure, trading below all eight primary simple moving averages, including the 50-day, 150-day, and 200-day SMAs. The 14-day Relative Strength Index is at 37.9, approaching oversold levels.