Top 10 Most-Valued Firms Lose Rs 1.67 Lakh Crore In Market Cap
The NSE Nifty 50 ended 420.35 points or 1.86% lower at 22,124.70, while the BSE Sensex closed 1,414.33 points or 1.9% down at 73,198.10.
.jpg?auto=format%2Ccompress&fmt=avif)
The 10 most-valued companies of India lost a combined Rs 1.67 lakh crore in market capitalisation on Friday, with Tata Consultancy Services Ltd., Bharti Airtel Ltd. and Infosys Ltd. leading the declines.
TCS saw the steepest decline, losing Rs 46,781.9 crore, bringing its market cap down to Rs 12.6 lakh crore. Bharti Airtel shed Rs 45,680.6 crore, while Infosys lost Rs 31,806.4 crore.
State Bank of India's market cap declined Rs 13,476.2 crore to Rs 6.15 lakh crore. ICICI Bank Ltd. lost Rs 12,951.5 crore, taking its market value to Rs 8.5 lakh crore.
Hindustan Unilever Ltd.'s market cap fell Rs 12,852.3 crore, while Bajaj Finance Ltd. and Reliance Industries Ltd. lost Rs 10,838.6 crore and Rs 9,472.7 crore respectively. ITC Ltd.'s market cap decreased by Rs 8,257.7 crore.
HDFC Bank Ltd. was the only gainer, adding Rs 24,243.3 crore and taking its total market cap to Rs 13.3 lakh crore.
RIL remains the most-valued company, followed by HDFC Bank and TCS.
The benchmark indices ended the week and the month with heavy losses on Friday, with the NSE Nifty 50 falling to its lowest level since June 5.
The Nifty 50 declined 420.35 points, or 1.86%, to close at 22,124.70, while the BSE Sensex ended 1,414.33 points, or 1.9%, lower at 73,198.10. During the day, the Nifty fell as much as 1.95% to 22,104.85, while the Sensex dropped 1.97% to 73,141.27.
The Nifty index recorded its longest monthly losing streak in 28 years, falling for the fifth consecutive month, a trend not seen since November 1996. In February, more than 450 of the Nifty 500 stocks declined, capping a challenging month for the markets.
