Top 10 Most-Valued Firms Lose Rs 47,000 Crore In Market Cap, Led By RIL, Bharti Airtel
The NSE Nifty 50 posted the biggest weekly gains since early June.
(Source: NDTV Profit)
The top 10 most-valued firms lost a cumulative Rs 47,209 crore in market valuation on Friday, with Reliance Industries Ltd and Bharti Airtel Ltd emerging as the biggest losers.
Reliance Industries Ltd lost Rs 14,140 crores in market capitalisation to Rs 17.74 lakh crore, and Bharti Airtel Ltd lost Rs 10,019 crores with its market cap loss to Rs 9.09 lakh crore.
All the stocks in the top 10 most-valued firms ended in red, barring Larsen and Turbo and ITC.
Larsen and Turbo Ltd and ITC Ltd gained Rs 4,565 crore and Rs 4,076 crore, respectively.
The market capitalisation of HDFC Bank Ltd lost Rs 7,857 crores to Rs 14.15 lakh crore, and Tata Consultancy Services lost Rs 7,199 crore to Rs 16.07 lakh crore.
Infosys Ltd lost Rs 6,581 crores in market capitalisation to Rs 7.96 lakh crore, and ICICI Bank Ltd lost Rs 5,284 crores with its market cap loss to Rs 9.36 lakh crore.
Hindustan Unilever Ltd lost Rs 2,537 crores in market capitalisation to Rs 5.83 lakh crore, and State Bank of India lost Rs 2,231 crore with its market cap loss to Rs 7.7 lakh crore.
RIL remained the most valued firm, followed by TCS, HDFC Bank Ltd., Airtel, ICICI Bank, Infosys, SBI, Hindustan Unilever Ltd., ITC, and HCL Tech.
The NSE Nifty 50 and BSE Sensex ended Friday's session with a marginal loss as HDFC Bank Ltd. and Reliance Industries Ltd.'s share prices dragged. The NSE Nifty 50 posted the biggest weekly gains since early June.
The Nifty 50 ended 39.05 points, or 0.16%, down at 24,669.35, and the Sensex ended 56.74 points, or 0.07%, down at 81,709.12.
The Nifty 50 fell as much as 0.36% to 24,620.50, and the Sensex fell 0.32% to 81,506.19 intraday. The indices fell sharply after the Reserve Bank of India kept the repo rate unchanged at 6.5% and maintained a neutral stance. The central bank reduced the GDP forecast for financial year 2025 while it increased the projection for inflation.
Following the Monetary Policy Committee's announcement to cut the cash reserve ratio, the NSE Nifty Bank rose 0.49% to the day's high of 53,868.50. The central bank cut the CRR by 50 basis points to 4.00%. RBI will cut CRR in two tranches in fortnights beginning Dec. 14 and Dec. 28 at 25 bps each.
