The downward trend continued as Reliance Industries saw its share price decline by 3% on October 1, with the Bombay Stock Exchange (BSE) registering a 3.35% decline. Subsequently, shares fell another 0.89% to Rs 2,927, leading to a market cap decrease to Rs 67,000 crore by Monday, with an additional loss of Rs 12,000 crore on Tuesday.

The fluctuations in Reliance’s share prices have stirred mixed reactions among investors, with many facing losses due to recent crashes. The broader Indian stock market also exhibited signs of stress, with the Sensex dropping over 1,000 points and the Nifty index down 300 points in early trade on Monday. Key sectors such as banking, auto, financial services, and real estate have been severely impacted.

Before this decline, Indian stock indices had been on an upward trajectory, hitting six consecutive session highs. However, profit booking appeared to pause towards the end of the week, leading to a slight decline in trading. This ongoing volatility poses challenges for investors and raises concerns about future market stability.

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Taking a closer look at the current rates, in Delhi, 10 grams of 22-carat gold are priced at Rs. 67,090, while 24-carat gold is at Rs. 73,180. Meanwhile, Mumbai sees 22-carat gold at Rs. 66,940 and 24-carat gold at Rs. 73,030. Chennai, Kolkata, Hyderabad, Vijayawada, and Visakhapatnam also reflect similar pricing trends for both 22-carat and 24-carat gold.

In parallel with the gold market, silver prices have mirrored the movements of gold. Recent data shows a decrease in silver prices across major cities, with Delhi and Mumbai listing silver at Rs. 86,900 per kilogram. The highest silver price per kilogram is recorded in Chennai, Kerala, Hyderabad, Visakhapatnam, and Vijayawada at Rs. 91,900.

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