Top 10 Most Valued Firms Lose Rs 1.25 Lakh Crore Market Cap As TCS, RIL Drag
TCS lost Rs 41,438 crore, taking its market capitalisation to Rs 15.67 lakh crore.
The top 10 most valued firms together lost Rs 1.25 lakh crore in market valuation on Friday, as Tata Consultancy Services Ltd. and Reliance Industries Ltd. dragged. Larsen & Toubro Ltd. and Infosys Ltd. were also among the losers for the day.
India's benchmark equity indices reversed five consecutive sessions of gains to close lower on Friday, snapping an eight-week gaining streak to end at their lowest closing since July 25.
The NSE Nifty 50 closed 293.20 points, or 1.17% down at 24,717.70 and the S&P BSE Sensex was 885.60 points, or 1.08% lower at 80,981.
TCS lost Rs 41,438 crore, taking its market capitalisation to Rs 15.67 lakh crore, while Reliance Industries lost Rs 26,117 crore, making its market cap stand at Rs 20.24 lakh crore.
The valuation of L&T fell by Rs 16,687 crore to Rs 5.02 lakh crore. Infosys also lost Rs 13,945 crore, taking its market capitalisation to Rs 7.54 lakh crore.
HDFC Bank Ltd. was the only gainer in the session, with its market cap rising by Rs 14,615 crore to Rs 12.58 lakh crore.
Reliance Industries remained the most valued firm, followed by Tata Consultancy Services Ltd., HDFC Bank, Bharti Airtel Ltd., ICICI Bank Ltd., State Bank of India, Infosys, Hindustan Unilever Ltd., ITC Ltd., and Larsen & Toubro Ltd.
