New Delhi, Business Desk. Due to weakness in the global market, the stock market fell for the second consecutive day on Monday. Investors’ wealth has declined by Rs 7.73 lakh crore after Friday and Monday’s fall. The BSE 30-share Sensex closed at 54,470.67, down 364.91 points or 0.67 per cent on Monday.
The decline was also recorded on Friday
At the same time, on Friday, the Sensex closed at 54,835.58, down 866.65 points or 1.56 percent. After two days of decline, the market cap of BSE listed companies has come down by Rs 7,73,582.29 crore to Rs 2,51,91,307.08 crore.
Why is it affecting?
Shrikant Chauhan, Head Equity Research, Kotak Securities Ltd, said weakness in overseas markets, outflow of money by foreign investors and depreciation of the rupee against the US dollar weighed on investor sentiment.
Reliance Industries shares fell four percent
Could not impress investors on the fourth quarter results of Reliance Industries and the company’s stock fell by 4 percent on Monday. Shares of Reliance Industries closed at 2,517.17, down 3.97 per cent on the BSE. It went down as much as 4.3 per cent during the day’s trading. Since April 29, the stock has fallen 10.71 percent on the BSE. At the same time, the company’s market cap has come down by Rs 2,04,624.12 crore to Rs 17,02,844.88 crore.
Reliance fourth quarter results
Let us tell you that on Friday, the company announced its fourth quarter results. Not only did the company report a 22.5 percent increase in profits, but a sharp rise was registered across all the company’s verticals of gas and oil, retail, telecom and digital services. At the same time, there has been a jump of 24% in the profit of Reliance Jio. According to the fourth quarter results, Reliance Jio’s profit grew by almost 24 per cent to Rs 4173 crore, from Rs 3,360 crore in the year-ago period.
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