Jio Financial hits lower circuit for 5th straight day, market cap rises to Rs. 37,000 crore reduction

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After today’s lower circuit, the share price of Jio Financial has fallen to Rs.202.80.

New Delhi:

BQ Prime According to the report, the stock of Jio Financial Services Ltd. has been in a lower circuit since its listing on August 21. Today on the fifth day it still has a circuit low of 5%.

Lower circuit for 5th consecutive day

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On BSE Rs. 265 and on NSE Rs. 262, it closed on August 21 with a circuit low of 5% at Rs. 248.90, the next day it touched the lower circuit on August 22, when the closing price was Rs. was 236.45. After the lower circuit on August 23, the price came to Rs.224.65, after the lower circuit on August 24, the stock price came to Rs.213.45 and after today’s lower circuit, the stock price was Rs. .202.80.

According to NSE’s order book, 9.31 crore shares were pending for sale till 9:40 am.

According to Bloomberg data, 0.7% of the equity or 4.74 crore shares were heavily traded in pre-market trades. However, information about who bought and sold shares is not available. After the market opened, 1.02 crore shares were traded again at an average price of Rs 202.80.

37,000 crore clear market cap

The decline in JFS has also affected the rest of the Reliance Group shares, with the five-day long decline taking Jio Financial’s market cap to Rs. 37,000 crore reduced to Rs. 1.29 lakh crore, today the market cap of Jio Financial is Rs. 6,766.25 crore has decreased. On Thursday, Jio Financial’s market cap was Rs. 7,115.68 crore had decreased. On Wednesday, the market cap was Rs. 7,496.88 crore, while on Tuesday the market fell by Rs. 7,909.84 crore was reduced.

Index avoided

The BSE had earlier said that the stock would drop out of all S&P BSE indices from August 29, as it hit the lower circuit for three consecutive days, but it has continued to fall and has remained on the lower circuit for two days since then. If it remains, the de-indexing program will be postponed for the next three days. Shares of Jio Financial have been on the lower circuit throughout the week. So now the exit from the index has been postponed for three days.

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