Top 10 Most-Valued Firms Lose Rs 27,000 Crore In Market Cap, Led By RIL, HUL
The NSE Nifty 50 closed 0.38% down at 24,548.70, while the BSE Sensex ended 0.29% lower at 81,289.96.
The top 10 most-valued firms lost a cumulative Rs 27,080 crore in market valuation on Thursday, with Reliance Industries Ltd. and Hindustan Unilever Ltd. emerging as the biggest losers.
RIL lost Rs 20,703 crore in market capitalisation to approximately Rs 17.1 lakh crore. It declined for the fifth consecutive session, losing Rs 65,000 crore in market cap as it tanked 3.7% during the period.
HUL lost Rs 13,251 crore, with its market cap declining to Rs 5.5 lakh crore. Larsen & Toubro Ltd. and State Bank of India lost Rs 7,816 crore and Rs 7,050 crore respectively. ITC Ltd. and HDFC Bank Ltd. Rs 5,816 crore and Rs 2,937 crore respectively.
The market cap of Bharti Airtel Ltd. gained Rs 13,976 crore to Rs 9.16 lakh crore, while Tata Consultancy Services Ltd. added Rs 9,949 crore, taking the total valuation to Rs 16.1 lakh crore. ICICI Bank Ltd. and Infosys Ltd. added Rs 1,232 crore and Rs 5,335 crore respectively.
RIL remained the most valued firm, followed by TCS, HDFC Bank, Airtel, ICICI Bank, Infosys, SBI, HUL, ITC and HCL Technologies Ltd.
The benchmark equity indices ended at the lowest level in over a week as shares of RIL, L&T and HUL dragged. The Nifty closed 93.10 points or 0.38% down at 24,548.70, while the Sensex ended 236.18 points or 0.29% lower at 81,289.96.
Shares of RIL, L&T, HUL, NTPC Ltd. and ITC weighed on the Nifty the most. Airtel, Infosys, TCS, Tech Mahindra Ltd. and ICICI Bank cushioned the fall.
The broader indices underperformed as the BSE MidCap closed 0.6% down and the SmallCap fell 1%. The market breadth was skewed in favour of the sellers as 2,508 stocks fell, 1,491 rose and 106 remained unchanged on the BSE.
