India's Top 10 Most-Valued Firms Lose Rs 42,156 Crore In Market Cap As Infosys, ICICI Bank Weigh
Bharti Airtel Ltd., TCS Ltd., HCL Technologies Ltd., and State Bank of India also reported loss in market valuation on Wednesday.
Infosys Ltd.’s headquarter in Bengaluru. (Source: Vivek Amare/NDTV Profit)
The country's top 10 most-valued firms lost a cumulative Rs 42,156.06 crore in market valuation on Wednesday, led by losses in ICICI Bank Ltd., Infosys Ltd., and HDFC Bank Ltd. Reliance Industries Ltd., ITC Ltd., and Hindustan Unilever Ltd. were among the gainers for the day.
Tech giant Infosys lost Rs 16,816.15 crore in market capitalisation to Rs 7.46 lakh crore. ICICI Bank lost Rs 13,281.12 crore in market capitalisation to Rs 9.25 lakh crore. HDFC Bank lost Rs 11,328.54 crore, with its market capitalisation falling to Rs 13.25 lakh crore.
Bharti Airtel Ltd., TCS Ltd., HCL Technologies Ltd., and State Bank of India also reported losses in market valuation on Wednesday.
The NSE Nifty 50 and BSE Sensex resumed decline after a two-day rally amid a jump in the market volatility as Infosys Ltd. and ICICI Bank Ltd. share prices declined. The NSE India Volatility Index ended at the highest level since Aug. 13.
The Nifty 50 ended 126 points, or 0.51% lower at 24,340.85, and the Sensex ended 426.85 points, or 0.53% down at 79,942.18.
The Indian benchmark indices were also pressured by a decline in Asian and Europe markets, which edged lower ahead of the gross domestic product data from Europe and the US.
Reliance Industries, which was among the gainers of the day, saw its valuation rise by Rs 6,562.84 crore to Rs 18.19 lakh crore. ITC added approximately Rs 4,815.43 crore in market capitalisation to Rs 6.15 lakh crore. HUL gained approximately Rs 2,749.02 crore in market capitalisation to Rs 6.01 lakh crore.
RIL remained the most valued firm, followed by TCS, HDFC Bank, Airtel, ICICI Bank, Infosys, SBI, ITC, HUL, and HCLTech.
