Top 10 Most-Valued Firms Lose Rs 61,881 Crore In Market Cap
The NSE Nifty 50 and BSE Sensex declined for three sessions in a row on Friday as ICICI Bank Ltd. and HDFC Bank Ltd. share prices dragged.
The market capitalisation of the top 10 most-valued firms lost a cumulative Rs 61,880.5 crore on Friday, led by Reliance Industries Ltd., Tata Consultancy Services Ltd. and ITC Ltd.
State Bank of India, ICICI Bank Ltd., HDFC Bank Ltd., Infosys Ltd., Bajaj Finance Ltd. and Hindustan Unilever Ltd. were the other stocks that declined.
RIL's market capitalisation declined Rs 20,095.6 crore to Rs 17.14 lakh crore. Despite the setback, RIL remained one of the top players in the market. It was followed by TCS, which saw a decline of Rs 19,302.5 crore in its market cap, bringing the total value to Rs 14.57 lakh crore.
ITC Ltd. faced a sharp decline in its market cap, losing Rs 13,762.9 crore, which brought its value down to Rs 5.38 lakh crore. State Bank of India lost Rs 13,431.6 crore, taking its market cap to Rs 6.57 lakh crore.
ICICI Bank Ltd.'s market cap fell Rs 10,869.4 crore to Rs 8.87 lakh crore, while that of HDFC Bank Ltd. fell Rs 8,489 crore to Rs 13.25 lakh crore. Infosys Ltd., Bajaj Finance Ltd. and Hindustan Unilever Ltd. were the other stocks that declined.
Bharti Airtel Ltd. was the only company among the 10 top companies that posted positive growth, with its market cap increasing by Rs 33,178.23 crore to Rs 9.55 lakh crore. The telecom giant continued to see investor confidence and market momentum.
The NSE Nifty 50 and BSE Sensex declined for three sessions in a row on Friday as ICICI Bank Ltd. and HDFC Bank Ltd. share prices dragged. However, on a weekly basis, both indices ended up for the second week.
Market participants parsed the Reserve Bank of India's Monetary Policy Committee statement after the rate-setting panel cut the repo rate. The Nifty 50 ended 43.40 points, or 0.18% down at 23,559.95, and the Sensex settled 211.41 points, or 0.27% lower at 77,846.74.
