Top 10 Most-Valued Firms Lose Rs 1.19 Lakh Crore In Market Cap, Led By RIL
The benchmark indices ended lower for the second consecutive session as a broad selloff in Indian equities sparked high volatility and loss of investor confidence.
The top 10 most-valued firms lost a cumulative Rs 1.19 Lakh crore in market valuation on Monday, with Reliance Industries Ltd. and HDFC Bank Ltd. emerging as the biggest losers.
RIL lost Rs 44,859.8 crore, taking its market capitalisation to approximately Rs 16.5 lakh crore, while HDFC Bank lost Rs 29,596.7 crore, with its market cap falling to approximately Rs 13.1 lakh crore.
ITC Ltd. and State Bank of India lost Rs 16,202.7 crore and Rs 15,171.9 crore respectively. Hindustan Unilever Ltd. and Bharti Airtel Ltd. were also among the losers.
The market cap of Tata Consultancy Services Ltd. fell Rs 1,772.9 crore to Rs 14.8 lakh crore, while that of ICICI Bank Ltd. declined Rs 670.5 crore to Rs 8.92 lakh crore. Infosys Ltd.'s market valuation fell Rs 373.7 crore to Rs 8.0 lakh crore.
HCL Technologies Ltd., which was the only stock that ended higher out of the top 10 most-valued firms, gained Rs 1,736.8 crore in market cap to Rs 5.3 lakh crore.
RIL remained the most-valued firm, followed by TCS, HDFC Bank, Airtel, ICICI Bank, Infosys, SBI, HUL, ITC and HCLTech.
The benchmark indices ended lower for the second consecutive session on Monday as a broad selloff in Indian equities sparked high volatility and loss of investor confidence.
The NSE Nifty 50 closed 388.70 points or 1.62% down at 23,616.05, while the BSE Sensex settled 1,258.12 points or 1.59% lower at 77,964.99. During the session, the Nifty declined as much as 1.89% to 23,551.90, while the Sensex dropped 1.82% to 77,781.62.
Domestic stocks witnessed a deja vu of sorts as sentiments soured after two cases of human metapneumovirus were reported in India.
