India's Top 10 Most Valued Firms Lose Rs 55,000 Crore In Market Cap As RIL, Infosys Drag
The top 10 most valued firms together lost Rs 55,241 crore in market valuation on Thursday as RIL and Infosys Ltd. dragged. TCS Ltd. and ICICI Bank Ltd. were also among the losers for the day.
The top 10 most valued firms collectively lost Rs 55,241 crore in market valuation on Thursday, as Reliance Industries Ltd. and Infosys Ltd. dragged. Tata Consultancy Services Ltd. and ICICI Bank Ltd. were also among the losers for the day.
On Thursday, the benchmark equity indices erased initial gains—after the RBI monetary policy committee maintained the status quo—to end lower as market participants found Governor Shaktikanta Das' commentary hawkish. Losses in European markets and some Asian indices also put downward pressure on the indices.
The NSE Nifty 50 ended 180.50 points, or 0.74%, lower at 24,177, and the S&P BSE Sensex closed 581.79 points, or 0.73%, lower at 78,886.22. During the day, the Nifty fell as much as 0.90%, and the Sensex fell 0.84%.
ALSO READ
RBI Monetary Policy: Despite 'Hawkish' Policy, Economists See Shallow Rate Cut Cycle From December
Reliance Industries lost Rs 22,463 crore in market capitalisation to Rs 19.59 lakh crore, while Infosys lost Rs 21,852 crore, taking its market cap to Rs 7.21 lakh crore.
The valuation of L&T fell by Rs 11,030 crore to Rs 4.89 lakh crore. TCS also lost Rs 11,030 crore, taking its market capitalisation to Rs 15.27 lakh crore.
ITC Ltd., Bharti Airtel Ltd., and HDFC Bank were the gainers in the session.
HDFC Bank gained Rs 12,679 crore in market capital to Rs 12.45 lakh crore, whereas ITC Ltd. gained Rs 1,871 crore to Rs 6.16 lakh crore.
Reliance Industries continue to remain as the most valued firm, followed by Tata Consultancy Services, HDFC Bank, Bharti Airtel, ICICI Bank, State Bank of India, Infosys, Hindustan Unilever Ltd., ITC, and Larsen & Toubro Ltd
