Top 10 Most-Valued Firms Lose Rs 29,000 Crore In Market Cap, Led By RIL, HUL
The benchmark equity indices ended the first session of the week on a subdued note as Reliance Industries and FMCG stocks dragged them the most.
The top 10 most-valued firms lost a cumulative Rs 29,265 crore in market valuation on Monday, with Reliance Industries Ltd. and Hindustan Unilever Ltd. emerging as the biggest losers.
The market capitalisation of RIL declined Rs 20,500 crore to Rs 17.5 lakh crore, while HUL lost Rs 19,219 crore, with its market cap falling to Rs 5.64 lakh crore. ITC Ltd. and State Bank of India lost Rs 7,442 crore and Rs 4,863 crore respectively.
ICICI Bank Ltd. also ended in loss in the trading session, losing Rs 3,698 crore in market cap.
The market cap of HDFC Bank Ltd. rose Rs 8,925 crore to Rs 14.2 lakh crore and Larsen & Toubro Ltd. gained Rs 12,106 crore to Rs 5.43 lakh crore.
Infosys Ltd. gained Rs 1,889 crore in market cap, taking it to Rs 8 lakh crore, while Bharti Airtel Ltd. added Rs 3,501 crore, with its market cap rising to Rs 9.13 lakh crore.
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 the first session of the week on Monday on a subdued note as RIL and fast-moving consumer-goods stocks dragged them the most.
The NSE Nifty 50 ended 58.80 points or 0.24% lower at 24,619 and the BSE Sensex closed 200.66 points or 0.25% down at 81,508.46. During the day, both the Nifty and Sensex had fallen 0.4% each.
Sentiment in the FMCG stocks was impacted after Godrej Consumer Products Ltd. flagged the continued slowdown in demand. The sector contributed 39 points to the Nifty's decline.
Investors tracked various global events, including comments from China's politburo, the country's change in monetary policy stance, political scenario in South Korea, and geopolitical tensions in West Asia over the weekend.
