Monday's big selloff in Indian stocks resulted in the cumulative loss of Rs 60,604 crore for the top 10 most-valued firms, with major declines in the three major banks.
HDFC Bank Ltd. witnessed the steepest decline among the top 10 most-valued firms with a loss of Rs 19,800 crore, bringing its market cap down to Rs 12.47 lakh crore. The share price settled 1.56% lower.
ICICI Bank Ltd. saw a reduction of Rs 14,187 crore in its market cap, which stands at Rs 8.67 lakh crore now. State Bank of India shed Rs 12,271 crore from its value to Rs 6.5 lakh crore. The two lenders' stock closed lower 1.61% and 1.85%, respectively.
The overall banking pack suffered, with the Nifty Bank tanking 1.42%.
Bharti Airtel Ltd. and ITC Ltd. fell Rs 10,651 crore and Rs 7,319.35 crore, respectively. Reliance Industries Ltd.'s market cap dropped Rs 2,774 crore to Rs 16.77 lakh crore, while Hindustan Unilever Ltd. saw a decrease of Rs 657 crore, bringing its market cap to Rs 5.48 lakh crore.
Tata Consultancy Services Ltd. gained Rs 9,208 crore in market capitalisation, while Hindustan Unilever Ltd. added Rs 716 crore.
RIL retained its position as the most-valued firm, followed by TCS, HDFC Bank, Bharti Airtel, ICICI Bank, Infosys, SBI, HUL, ITC, and HCLTech.
Markets At Close
The benchmark Nifty and Sensex declined for the fourth consecutive session, with both indices falling over 1.5% intraday. The Nifty ended 1.47% lower, down 345.55 points at 23,085.95, marking its worst start to a year since 2016. Similarly, the Sensex closed 1.36% lower, down 1,048.90 points at 76,330.01.
Broader indices underperformed, with the Nifty Midcap 100 and Nifty Smallcap 250 ending 4.02% and 4% lower, respectively. Most sectoral indices declined, led by a sharp drop in Nifty Realty. Among individual stocks, Axis Bank and TCS were the top gainers on the Nifty, while Adani Enterprises Ltd. and Trent Ltd. saw the steepest declines.
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