The country's top 10 most-valued firms together lost Rs 7,728 crore in market valuation on Wednesday, with Infosys Ltd. and Tata Consultancy Services Ltd. emerging as the biggest losers. Reliance Industries Ltd. and HDFC Bank Ltd. were among the other gainers for the day.
Infosys lost Rs 17,106 crore, taking its market capitalisation to Rs 7.96 lakh crore, and TCS lost Rs 8,249 crore, with its market capitalisation falling to Rs 14.8 lakh crore. ICICI Bank Ltd. and ITC Ltd. were also among the losers.
The NSE Nifty 50 and the BSE Sensex recorded a two-day losing streak on Wednesday, tracking a sell-off across the globe. Most share indices in the Asia–Pacific and Europe plunged on cues from overnight moves on Wall Street.
The Nifty 50 closed 86.05 points or 0.34%, down at 24,971.30, and the Sensex settled 318.76 points or 0.39%, down at 81,501.36.
During the session, the Nifty 50 declined as much as 0.59% to 24,908.45, while the Sensex declined 0.56% to 81,358.26.
Infosys Ltd., Mahindra & Mahindra Ltd., Trent Ltd., ICICI Bank Ltd. and Nestle India Ltd. weighed on the Nifty 50 the most.
HDFC Bank Ltd., Reliance Industries Ltd., Bharti Airtel Ltd., HDFC Life Insurance Co. and Bajaj Auto Ltd. limited the losses to the index the most.
The broader indices outperformed the benchmark indices as the BSE MidCap closed 0.1% down and the SmallCap was up 0.3%.
The valuation of RIL rose by Rs 14,445 crore to Rs 18.3 lakh crore. HDFC Bank added Rs 12,472 crore in market capitalisation, taking the total to Rs lakh 12.97 lakh crore. Bharti Airtel Ltd. and State Bank of India also reported gains in market valuation on Wednesday.
RIL remained the most-valued firm, followed by TCS, HDFC Bank, Airtel, ICICI Bank, Infosys, SBI, Hindustan Unilever Ltd., ITC and HCL Technologies Ltd.
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