Top 10 Most-Valued Firms Lose Rs 2,117 Crore In Market Cap, Led By RIL, SBI

The top 10 most-valued firms lost a cumulative Rs 2,116.7 crore in market valuation on Friday, with Reliance Industries Ltd. and State Bank of India emerging as the biggest losers, in line with a rally in equities. ITC Ltd. and Hindustan Unilever Ltd. were among the gainers for the day.

RIL lost Rs 15,764.4 crore, taking its market capitalisation to Rs 17.97 lakh crore. SBI lost Rs 10,441.8 crore, with its market capitalisation falling to Rs 6.98 lakh crore. HDFC Bank Ltd. and Bharti Airtel Ltd. were the other losers for the day.

The valuation of ITC rose by Rs 13,258.1 crore to Rs 6.03 lakh crore. HUL added approximately Rs 5,921 crore, taking its market capitalisation to Rs 5.94 lakh crore. ICICI Bank Ltd., Tata Consultancy Services Ltd., HCL Technologies Ltd and Infosys Ltd. also reported gains in market valuation on Friday.

RIL remained the most-valued firm followed by TCS, HDFC Bank, Airtel, ICICI Bank, Infosys, SBI, ITC, HUL and HCLTech.

The benchmark equity indices fell for the fourth consecutive week, the longest streak since five weeks ended Aug. 24. On a daily basis, they continued their downtrend for the fifth session.

The NSE Nifty 50 ended 218.60 points or 0.90% down at 24,180.80 and the BSE Sensex fell 662.87 points or 0.83% to close at 79,402.29.

The share price of IndusInd Bank Ltd., Larsen & Toubro Ltd., Mahindra & Mahindra Ltd., RIL and NTPC contributed the most to the fall.

On a weekly basis, the Nifty ended 2.7% lower and the Sensex lost 2.2%. All sectoral indices on the NSE ended lower, with the Nifty Realty and the Nifty Metal losing the most.