Masterstroke by Mukesh Ambani as Reliance boss may sell these items through Reliance Retail8Photo© dnaindia.com

Masterstroke by Mukesh Ambani as Reliance boss may sell these items through Reliance Retail

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Mukesh Ambani's twins Akash Ambani and Isha Ambani are celebrating their birthday on October 23 (Wednesday). However, just before their special day, Reliance Industries' stock saw a drop of 1.86% (Rs 50.95), closing at Rs 2,687.30. This decline resulted in a significant market capitalization loss of Rs 34,473.43 crore, bringing the company's market cap down to Rs 18,18,262.08 crore from Rs 18,52,735.51 crore the previous day.

As of October 22, 4:02 PM, Reliance Industries' shares were trading at Rs 2,687.30, down 1.86% from the prior close. The Sensex index also experienced a decline, trading at Rs 80,220.72, down 1.15%. Throughout the day, Reliance's stock reached a high of Rs 2,751.90 and a low of Rs 2,680.80.

On the technical side, Reliance’s stock is currently trading below several key short-term and long-term simple moving averages, including the 5, 10, 20, 50, 100, and 300-day averages.