10 Most-Valued Firms Lose Rs 18,300 Crore In Market Cap As RIL, ITC Drag
Infosys Ltd. and Tata Consultancy Services Ltd. witnessed market capitalisation loss of Rs 4,827 crore and Rs 2,641 crore, respectively.
The top 10 most-valued firms lost a cumulative Rs 18,363 crore in market valuation on Wednesday, with Reliance Industries Ltd. and ITC Ltd. emerging as the biggest losers.
Reliance Industries Ltd. witnessed a sharp loss among the top 10 most valued firms, with a loss of Rs 24,087 crore, bringing its market capitalisation to Rs 16.46 lakh crore. Similarly, ITC Ltd. saw a decrease of Rs 8,883 crore in its market cap, which now stands at Rs 5.14 lakh crore.
Infosys Ltd. and Tata Consultancy Services Ltd. witnessed market capitalisation loss of Rs 4,827 crore and Rs 2,641 crore, respectively.
Bharti Airtel Ltd. witnessed a gain among the top 10 most valued firms, with a gain of Rs 8,686 crore, bringing its market capitalisation up to Rs 9.75 lakh crore. Similarly, HDFC Bank Ltd. saw an increase of Rs 7,074 crore in its market cap, which now stands at Rs 13.08 lakh crore.
Hindustan Unilever Ltd. and State Bank of India witnessed significant market capitalisation gain of Rs 3,700 crore and Rs 1,651 crore, respectively.
Bajaj Finance Ltd. and ICICI Bank Ltd. witnessed market capitalisation gain of Rs 903 crore and Rs 70.58 crore, respectively.
Reliance Industries Ltd. retained its position as the most-valued firm, followed by Tata Consultancy Services Ltd., HDFC Bank, Bharti Airtel Ltd., ICICI Bank Ltd., Infosys Ltd., State Bank of India, Hindustan Unilever Ltd., ITC, and Bajaj Finance.
ALSO READ
Caution On Small, Mid Caps Turns Investors Wary Of Indian Market — Key Reasons For Wednesday’s Fall
Shares of Reliance Industries Ltd., Mahindra & Mahindra Ltd., ITC Ltd., Infosys Ltd. and Bharat Electronics Ltd. were the top losers among the NSE Nifty 50 stocks on Wednesday.
Meanwhile, among the gainers were shares of HDFC Bank Ltd., Larsen & Toubro Ltd., Bharti Airtel Ltd., Kotak Mahindra Bank Ltd. and Bajaj Finserv Ltd.
The benchmark indices extended their fall to the sixth consecutive day, the most since Nov. 18, 2024. Realty, auto and oil and gas sectors were the top sectoral losers.
The Nifty 50 fell as much as 1.19% to 22,798.35, and the BSE Sensex declined 1.19% to 75,388.39. The broader market tumbled more than the benchmark indices, but recovered later in the session with the midcap index down 0.37% and the small-cap index slipping by 0.7%.
