Top 10 Most-Valued Firms Lose Over Rs 1 Lakh Crore In Market Cap, Led By RIL, HDFC Bank
The country's top 10 most-valued firms lost a cumulative market valuation over approximately Rs 1.09 lakh crore on Wednesday, with Reliance Industries Ltd. and HDFC Bank Ltd. emerging as the biggest losers.
RIL lost Rs 30,040 crore in market capitalisation to Rs 16.9 lakh crore and HDFC Bank lost Rs 28,111 crore in market cap to Rs 12.8 lakh crore.
The market cap of Tata Consultancy Services Ltd. declined Rs 17,023 crore to Rs 15 lakh crore. State Bank of India lost Rs 16,108 crore in market cap to Rs 7.21 lakh crore.
Hindustan Unilever Ltd. emerged as the top gainer in the session, gaining nearly Rs 810 crore.
Infosys Ltd. and ITC Ltd. fell the least in today's session. Infosys lost Rs 166 crore and ITC lost Rs 813 crore in market capitalisation.
RIL remained the most-valued firm, followed by TCS, HDFC Bank, Bharti Airtel Ltd., ICICI Bank, Infosys, SBI, HUL, ITC and HCL Technologies Ltd.
The NSE Nifty 50 and BSE Sensex extended losses to the fifth straight session on Wednesday as HDFC Bank Ltd., Reliance Industries Ltd. and Mahindra & Mahindra Ltd. share prices dragged.
The Nifty 50 ended at over four–month low for the second session in a row. The market–cap of Nifty 50 companies fell Rs 2.5 lakh crore to Rs 188.07 lakh crore as the index entered correction zone. The benchmark large–cap gauge declined over 10% from its life high of 26,277.35.
The Nifty ended 324.40 points or 1.36% down at 23,559.05, the lowest level since June 24. The Sensex closed 984.23 points or 1.25% lower at 77,690.95, the lowest since June 24.
During the last leg of the trade, the Nifty 50 declined as much as 1.57% to 23,509.60, and the Sensex plunged 1.45% to 77,533.30.
The Nifty Bank declined as much as 2.45% during the day to 49,904.40, the lowest since Aug. 16. The index ended 2.09% down at 50,088.35.
The Nifty Metal declined 3.04% during the day to 8,802.20, the lowest since Aug. 14. The index closed 2.66% down at 8,836.75.
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