The top 10 most-valued firms lost a cumulative Rs 94,315 crore in market valuation on Tuesday, with Reliance Industries Ltd. and Tata Consultancy Services Ltd. emerging as the biggest losers.
RIL lost Rs 36,704 crores in market capitalisation to Rs 18.16 lakh crore and Tata Consultancy Services lost Rs 21,654 crore with its market cap loss to Rs 14.54 lakh crore.
ICICI Bank Ltd. and Infosys Ltd. were the only gainers, gaining Rs 6,552 crore and Rs 332 crore, respectively.
The NSE Nifty 50 and the BSE Sensex closed at the lowest level in over two months on Tuesday as the share price of heavyweights Reliance Industries Ltd. and HDFC Bank Ltd. dragged. Broad-based weakness in US stocks and Asian and European shares due to concern about the pace of unwinding of monetary conditions in the US also seeped into the Indian markets.
The Nifty 50 ended 309 points or 1.25% down at 24,472.10, and the Sensex closed 930.55 or 1.15% down at 80,220.72, the lowest level since Aug 14.
During the last leg of the trade, the Nifty 50 fell as much as 1.35% to 24,445.80, and the Sensex fell 1.23% to a low of 80,149.53.
Nifty Midcap 150 lost more than 2 lakh crore in market capitalisation drag by Supreme Industries, Mazagon Dock and SJVN.
Nifty smallcap 250 lost 1.75 lakh crore in market capitalisation drag by Garden Reach Shipbuilders, Amber Enterprises and HFCL.
The market capitalisation of the State Bank of India loses 21,597 crores to 7.04 lakh crore. HDFC Bank Ltd also lost nearly Rs 10,604 crore, taking its market cap to Rs 13.08 lakh crore. HCL Technologies also lost nearly Rs 5,793 crore, taking its market cap to Rs 4.94 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.
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