Market Valuation Of 8 Of Top 10 Firms Falls Rs 2.48 Lakh Crore: 10 Points
- Eight of the top-10 most valued firms - based on market capitalisation - lost a combined Rs 2,48,372.97, following a Rs 2,85,251.65 crore loss for all 10 of those firms' market valuations in the week before - that ended on May 6.
- Tracking a weak broader market trend, Reliance Industries took the biggest hit in the week ending May 13. Reliance Industries valuation tumbled Rs 1,30,627.7 crore to reach Rs 16,42,568.98 crore.
- State Bank of India's market capitalisation (mcap) fell by Rs 35,073.72 crore to Rs 3,97,189.84 crore.
- The valuation of ICICI Bank sank by Rs 29,279.72 crore to Rs 4,70,856.80 crore, and Infosys shares erased Rs 16,869.36 crore to Rs 6,32,432.92 crore.
- HDFC Bank's market valuation declined by Rs 14,427.28 crore to Rs 7,16,641.13 crore and that of Bharti Airtel fell by Rs 11,533.26 crore to Rs 3,78,620.36 crore.
- The mcap of Tata Consultancy Services was lower by Rs 7,153.45 crore to Rs 12,48,998.89 crore, and HDFC fell by Rs 3,408.48 crore to Rs 3,86,636.58 crore.
- In contrast, Hindustan Unilever added Rs 10,514.42 crore, valuing it at Rs 5,15,582.56 crore.
- The market capitalisation of Kotak Mahindra Bank jumped by Rs 1,231.33 crore to Rs 3,53,200.33 crore.
- Reliance Industries remained the top valued firm, followed by Tata Consultancy Services, HDFC Bank, Infosys, Hindustan Unilever, ICICI Bank, State Bank of India, HDFC, Bharti Airtel and Kotak Mahindra Bank, according to rankings based on current market capitalisation.Â
- The relentless selling of Indian stocks by foreign investors continued, as they pulled out a little over Rs 25,200 crore from the Indian equity market in May so far.
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