10 Most-Valued Firms Lost Rs 1.27 Lakh Crore In Market Cap, Led By TCS And RIL
Reliance Industries lost Rs 33,084.85 crore, with its market cap declining to Rs 16.31 lakh crore, as the Nifty recorded the worst week in months.
The top 10 most-valued firms lost a cumulative Rs 17,572 crore in market valuation on Friday, with Tata Consultancy Services Ltd. and Reliance Industries Ltd. emerging as the biggest losers.
TCS lost Rs 36,759.77 crore, taking its market capitalisation to Rs 15.08 lakh crore. Reliance Industries lost Rs 33,084.85 crore, with its market cap declining to Rs 16.31 lakh crore, as the Nifty recorded the worst week in months.
State Bank of India, HDFC Bank Ltd. and Infosys Ltd. lost Rs 18,563.19 crore, Rs 16,783.02 crore and Rs 7,639 crore, respectively.
The market cap of Bharti Airtel Ltd. fell by Rs 7,571.9 crore to Rs 9.03 lakh crore, Hindustan Unilever Ltd. lost Rs 4,640.44 crore to pull the market cap to Rs 5.50 lakh crore and HCL Technologies Ltd. lost Rs 4,491.12 crore to 5.21 lakh crore.
The market cap of ITC also fell to Rs 5.82 lakh crore.
On the other hand, ICICI Bank Ltd. was the only company in the top 10 most-valued firms to see gains. The bank's market cap rose by Rs 3,593.3 crore pulling the market cap to Rs 9.10 lakh crore.
RIL remained the most-valued firm, followed by TCS, HDFC Bank, ICICI Bank, Airtel, Infosys, SBI, ITC, HUL and HCLTech.
The benchmark equity indices ended at the lowest in over a month on Friday and recorded the worst week in months as hawkish outlook from the US Federal Reserve rattled global markets across the globe.
The NSE Nifty 50 closed 364.20 points, or 1.52% down at 23,587.50, and the BSE Sensex ended 1,176.46 points, or 1.49% lower at 78,041.59.
The market cap of the Nifty 50 companies declined Rs 2.9 lakh crore to Rs 186.97 lakh crore, according to data on the NSE.
On the NSE, all the 12 sectors closed lower, with the Nifty Realty declining the most.
