Sensex Plunges by 153 Points as RIL Drags Down Market After Weak Q2 Results
The BSE Sensex witnessed a sharp decline on Tuesday, closing 153 points lower at 65,512.10. The main reason behind this drop was the weak Q2 results of Reliance Industries Ltd. (RIL), which led to its stock falling by over 1%. With RIL being one of the largest contributors to both the Sensex and Nifty indices, its underperformance had a significant impact on the broader market. Key Insights: RIL's Q2 Results Impact: Reliance Industries reported disappointing Q2 earnings, particularly in its core refining and petrochemical segments. This weaker-than-expected performance fueled concerns among investors, leading to a sell-off. Broader Market Effect: The Nifty 50 also followed suit, declining by 41 points to settle at 19,507. The lack of confidence in RIL’s performance caused ripples across multiple sectors, further contributing to the market downturn. Sectoral Performance: Oil & Gas: With RIL’s weak earnings […]