10 Most-Valued Firms Lose Rs 25,000 Crore In Market Cap In Last Trading Session Of 2024
TCS witnessed the sharpest drop among the top 10 most-valued firms, with a loss of Rs 23,155 crore, followed by Infosys which shed Rs 10,795 crore.
The top 10 most-valued firms lost a cumulative Rs 25,316 crore in market valuation on Tuesday, with Tata Consultancy Services Ltd. and Infosys Ltd. emerging as the biggest losers.
Nifty IT emerged as a top sectoral loser for the day, while snapping its two-day gaining streak.
Tata Consultancy Services Ltd. witnessed the sharpest drop among the top 10 most-valued firms, with a loss of Rs 23,155 crore, bringing its market capitalisation to Rs 14.81 lakh crore.
Infosys Ltd. saw a deletion of Rs 10,795 crore in its market cap, which now stands at Rs 7.8 lakh crore.
ICICI Bank Ltd. and Hindustan Unilever Ltd. lost Rs 7,855 crore and Rs 3,912 crore, respectively. HDFC Bank Ltd.'s market capitalisation decreased by Rs 3,852 crore, while HCL Technologies Ltd. lost Rs 1,126 crore.
Among the gainers, ITC Ltd. recorded an addition of Rs 9,318 crore to its mark cap, which rose to Rs 6.05 lakh crore. Reliance Industries Ltd. logged an addition of Rs 6,427 crore, bringing its market cap to Rs 16.44 lakh crore.
Reliance Industries Ltd. retained its position as the most-valued firm, followed by TCS, HDFC Bank, Bharti Airtel, ICICI Bank, Infosys, State Bank of India, Hindustan Unilever Ltd., ITC, and HCL Technologies.
State Bank of India Ltd. and Bharti Airtel Ltd. gained Rs 3,700 crore and Rs 5,934 crore, respectively.
Meanwhile, the Indian benchmark indices have risen for the ninth year in a row with their performance in 2024. The nine consecutive years of rise marks the best yearly winning streak since their inspection.
The Nifty 50 rose 8.80%, and the Sensex rose 8.17% in 2024, despite sharp losses in the final quarter of the calendar year.
Trent Ltd. and Mahindra & Mahindra Ltd. are the best performers in the Nifty 50 index. Trent rose 133.17%, and Mahindra & Mahindra Ltd. rose 73.86%.
