Top 10 Most-Valued Firms Lose Over Rs 1 Lakh Crore In Market Cap
Indian benchmark indices extended the fall on Tuesday to tumble over 1%, as global uncertainties continued to keep global funds away from domestic equities.
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(Image Source: TCS)
The top 10 most-valued firms lost a cumulative Rs 1.02 lakh crore in market valuation on Tuesday, with Tata Consultancy Services Ltd. and Reliance Industries Ltd. emerging as the biggest losers.
TCS witnessed a sharp loss among the top 10 most-valued firms, with a loss of Rs 26,556 crore, bringing its market capitalisation up to Rs 14.3 lakh crore. RIL saw a decrease of Rs 25,440 crore in its market cap, which now stands at Rs 16.7 lakh crore.
ITC Ltd. and HDFC Bank Ltd. witnessed market-cap loss of Rs 11,135 crore and Rs 10,974 crore respectively. Hindustan Unilever Ltd., ICICI Bank Ltd., Bajaj Finance Ltd., State Bank of India and Infosys Ltd. also recorded notable decreases of Rs 10,855 crore, Rs 6,952 crore, Rs 5,917 crore and Rs 5,087 crore respectively to their market cap.
Bharti Airtel Ltd. was the only company in the top 10 most-valued firms that ended in green, adding Rs 2,107 crore.
RIL retained its position as the most-valued firm, followed by TCS, HDFC Bank, Airtel, ICICI Bank, Infosys, SBI, HUL, ITC and Bajaj Finance.
Indian benchmark indices extended the fall on Tuesday to tumble over 1%, as global uncertainties continued to keep global funds away from domestic equities.
Indian benchmark indices — NSE Nifty 50 and 30-stock Sensex — fell as much as 1.54% and 1.5%, respectively, in Tuesday's trade. Nifty Realty, Media and Energy fell the most.
The broader market tumbled over more than the benchmark indices, with the midcap index down 3.44% and the small-cap index slipping by 3.84%.
About 75 of 150 midcap companies' shares have fallen over 20% from their highs, while 121 of 250 smallcaps have fallen over 20% from their highs, according to data compiled by NDTV Profit.
