Why Reliance Industries failed to rebound even as markets cheered Iran-US ceasefire reports

The equity benchmark indices erased all their early losses and settled with over 1% gains after media reports said that Iran and the United States had received a draft proposal that calls for a 45-day ceasefire and the reopening of the Strait of Hormuz to try and find a way to end the war.

There are hopes that the 45-day window would provide enough time for extensive talks between the countries to reach a permanent ceasefire.

So, the market cheered the "good news", as a sharp recovery was seen in major stocks and sectors. However, the index heavyweight, Reliance Industries (RIL), did not follow suit and ended with a cut of 3.30% on the NSE at ₹1,306. It was the top loser on the index.

RIL share price trend

Data show that the shares of Reliance Industries (RIL) have fallen 7% over the past 30 days, 5% in six months, and over 17% so far in 2026 (year-to-date), as per the closing level on Monday, April 6.

RIL's volume also witnessed a sharp spurt today. BSE data show that the scrip's TTQ (total traded quantity) stood at 18.29 lakhs today as compared to a 2W Avg Qty of 12.24 lakhs.

TTQ stands for Total Traded Quantity, representing the total number of shares of a specific company bought and sold during a single trading day. It acts as a primary indicator of a stock's volume or liquidity, reflecting how actively it is being traded.

'2W Avg Qty (Lakh)' refers to the two-week average quantity of shares traded, expressed in lakhs. It represents the average number of shares (in lakhs) that have been traded daily over the past two weeks (10-14 trading days).

RIL shares sliding: What we know so far

A fall in Reliance Industries (RIL) stock price could be attributed to multiple macro, sectoral, company-specific, and technical factors.

RIL's oil-to-chemicals (O2C) business is a key, integrated segment converting crude oil into fuels and high-value petrochemicals, contributing major revenue.

According to Trendlyne, technical indicators suggest that Reliance Industries stock is approaching oversold territory. As of April 2, the 14-day Relative Strength Index (RSI) stands at 40.5—while not yet in oversold territory (below 30), it indicates weakening momentum; readings above 70 are considered overbought.

The Moving Average Convergence Divergence (MACD) remains bearish, indicating continued downward momentum. The Average True Range (ATR), a measure of volatility, is around 34.5, suggesting elevated price swings.

Additionally, the stock is trading below all its key short- and long-term moving averages, remaining under 8 out of 8 simple moving averages (SMAs), which further reinforces the prevailing bearish trend.

Hence, a combination of higher crude, policy headwinds, and weak momentum has kept Reliance Industries shares under pressure.

No comments on investment in Texas oil refinery

Another factor that could be on investors' minds would be RIL's silence on Trump's announcement that RIL will invest in $300 billion in a Texas oil refinery.

In early March 2026, US President Donald Trump said that India's Reliance Industries (RIL) will make an investment in a new oil refinery being opened in Texas, thanking the company and "our partners in India" for the deal.

Describing it as a "historic $300 billion deal", Trump, in a social media post, said the project is being enabled by his administration's "America First agenda". He said the deal is "the biggest in US history" and "a massive win for American workers, energy, and the great people of South Texas".

However, there has been no official communication from Reliance Industries on the deal so far. "Thank you to our partners in India and their largest privately held energy company, Reliance, for this tremendous investment," Trump said.

Conclusion

While there are no specific reasons why the stock did not recover today and has been trading in negative territory in 2026, the above factors could be the possible reasons behind the slide.