How Nifty Held despite Reliance Mega Fall?

Due to a sharp fall in crude prices, Yesterday saw a mammoth 9% fall in Reliance stock, and still, our Nifty index closed in the green as Reliance has a weightage of 14% in the index. This shows robustness in the index. Mukesh Ambani saw his net worth wiped out by $5 Billion courtesy this fall.

If Reliance was flat for the day, it could have had seen an up move of 260 points in Nifty. Notwithstanding that the banking stocks did a phenomenal job of holding the fort.

Now, we can really say that the Nifty 50 index is fully prepared to show the correct market valuation as a heavyweight like Reliance could not make it fall like a pack of cards.

Long live the Bank Nifty index as a courtesy it the havoc in the market was avoided yesterday and you can get Best Bank Nifty Option tips here on a daily basis to make money in the market.