Why the market is upset with the stock of Mukesh Ambani’s Reliance, here are 5 reasons – Read

A good rise is being seen in the shares of the country’s largest company Reliance Industries. The company’s shares have reached a high of about 40 days. Even after that the mood of the stock market seems bad. The stock market once again appears to be under pressure. The reason for this is profit booking in the shares of IT companies.

Infosys, which is one of the biggest companies in the country, and other IT related companies are witnessing a decline. Therefore, even after rising in the stock market, shares of a company like Reliance appear to be under pressure. During the trading session, the company’s Sensex has seen a rise of about 800 points. Due to which stock market investors have suffered a loss of Rs 2.87 lakh crore.

However, the stock market is not under pressure only because of the decline in IT stocks. There are other reasons for this as well. In fact, there has been a big decline in Asian markets too, the effect of which is being seen in the Indian stock market. Profit booking by foreign investors is still going on. There is a rise in the prices of crude oil. The effect of fall in rupee against dollar does not seem to be disappearing from the stock market. Let us also tell you what kind of figures are being seen in the stock market.

stock market crash

A good decline is being seen in the stock market today. Bombay Stock Exchange’s main index Sensex fell by 779.53 points during the trading session to reach 76,263.29 points. However, the Sensex had opened with 77,069.19 points and had also reached the day’s high with 77,069.19 points. After the closing of the stock market, the Sensex fell by 423.49 points and closed at 76,619.33 points. On the other hand, the main index of National Stock Exchange Nifty closed at 23,203.20 points with a fall of 108.60 points. However, Nifty had also reached the lower level of the day with 23,100.35 points. In the morning Nifty opened at 23,277.10 points.

Increase in Reliance shares

There was a good rise in the shares of Reliance Industries on the last trading day of the week. After the stock market closed, the shares of the country’s largest company rose by 2.50 percent to Rs 1300.45 per share. As the stock market opened, the company’s shares saw a rise of more than 4 percent and reached Rs 1325.10. Whereas on Thursday the share closed at Rs 1268.70. Once again the market cap of the company has crossed the figure of Rs 17 lakh crore and has reached Rs 17,59,817.43 crore. The overall stock market could not benefit from the rise in Reliance shares.

IT shares fall

If we talk about the main reasons for the decline in the stock market, then there is a decline in IT shares. According to the website of the National Stock Exchange, there was a decline of about 6 percent in the shares of Infosys, one of the biggest IT companies of the country. Axis Bank shares fell by about 5 percent. Shares of Shriram Finance fell by about 4 percent. Shares of Kotak and Wipro fell by more than two and a half percent. On the contrary, a rise of 2.50 percent has been seen in the shares of BPCS. Shares of Hindalco, Coal India and BEL were seen rising by more than 2 percent.

decline in global markets

On Friday, due to the weak trend of the global stock market, there was a decline in the Indian stock market. Asian shares fell overnight on Wall Street, while bond yields fell amid the possibility of the Federal Reserve cutting interest rates in June. Chinese shares found some support after official data showed the economy grew year-on-year. There was growth of 5.4 percent in the fourth quarter of the year, which was stronger than expected and the growth rate for the full year 2024 was 5 percent. Japan’s Nikkei fell 1.1 percent. MSCI’s global index fell 0.05 percent. Its broadest index of Asia-Pacific shares fell 0.4 percent.

Selling by foreign investors

The selling by foreign investors has stopped yet. The effect of which is clearly visible in the stock market. According to NSDL data, foreign institutional investors (FIIs) sold equities worth Rs 4,341 crore, while domestic institutional investors bought equities worth Rs 2,928 crore on the same day. In the month of January, foreign investors have so far withdrawn more than Rs 40 thousand crores.

Increase in price of crude oil

Oil prices headed for a fourth weekly gain on Friday on concerns about supply shortages following US sanctions on Russian oil producers and signals from Federal Reserve officials about a possible interest rate cut. Brent crude futures rose 13 cents, or 0.2 percent, at $81.42 a barrel, after falling 0.9 percent in the previous session. US West Texas Intermediate crude futures rose 27 cents, or 0.3 per cent, to $78.95 a barrel, after falling 1.7 per cent on Thursday.

rupee vs dollar

The stock market has not yet recovered from the impact of the recent record fall in the rupee against the dollar. The Indian rupee fell 2 paise to 86.42 against the US dollar in early trade. The dollar index, which tracks the greenback’s movement against six major world currencies, rose 0.03 percent to 108.98.