10 Most-Valued Firms Lost Rs 95,700 Crore In Market Cap, Drag By HDFC Bank, Tata Consultancy Services
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The top 10 most-valued firms lost a cumulative Rs 95,703 crore in market valuation on Friday, with HDFC Bank Ltd. and Tata Consultancy Services Ltd. emerging as the biggest losers.
HDFC Bank Ltd witnessed a sharp loss among the top 10 most valued firms, with a loss of Rs 34,070 crore, bringing its market capitalisation up to Rs 13.37 lakh crore. Similarly, Tata Consultancy Services Ltd saw a decrease of Rs 27,443 crore in its market cap, which now stands at Rs 14.83 lakh crore.
ICICI Bank Ltd. and ITC Ltd. witnessed significant market capitalisation losses of Rs 18,033 crore and Rs 9,321 crore, respectively. Infosys Ltd., State Bank of India Ltd., HCL Technologies, and Bharti Airtel Ltd. also recorded notable decreases of Rs 7,930 crore, Rs 6,961 crore, Rs 6,933 crore, and Rs 6,179 crore, respectively, to their market capitalisation.
Reliance Industries Ltd. and Hindustan Unilever Ltd. witnessed significant market capitalisation gains of Rs 12,652 crore and Rs 8,517 crore, respectively.
Reliance Industries 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.
The NSE Nifty 50 and BSE Sensex snapped a two-day winning streak on Friday as private bank stocks declined. ICICI Bank Ltd. and HDFC Bank Ltd. share prices dragged the Nifty 50 the most. However, the benchmarks rose for the second consecutive week.
The Nifty 50 ended 199.60 points, or 0.83%, down at 23,989.05, and the Sensex ended 784.00 points, or 0.98%, down at 79,159.71.
During the session, the Nifty 50 declined 0.88% to the day's low of 23,976.00. The Sensex fell 1.04% to the day's low of 79,109.73.
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