Ten Most-Valued Firms Lose Rs 1.4 Lakh Crore In Market Cap, Led By RIL, SBI
RIL lost Rs 38,091.5 crore in market capitalisation and SBI lost Rs 32,351.7 crore.
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The top 10 most-valued firms together lost approximately Rs 1.4 lakh crore in market valuation on Friday, with Reliance Industries Ltd., State Bank of India, ICICI Bank Ltd. and Infosys Ltd. emerging as the biggest losers, in line with a rally. Hindustan Unilever Ltd. was the only gainer for the day.
India's benchmark indices extended losses on Friday, recording its worst week in over three months amid fears over the health of the US economy ahead of the release of jobs data. The selloff was broad-based, with the banking and energy sectors taking the biggest hit.
The NSE Nifty 50 closed 292.95 points or 1.17% lower, at 24,852.15 to extend the fall to the third consecutive session. The S&P BSE Sensex closed 1,017.23 points or 1.24%, down at 81,183.93, its fourth day of decline. Both indices lost nearly Rs 4 lakh crore in value.
RIL lost Rs 38,091.5 crore in market capitalisation to touch Rs 19.8 lakh crore and SBI lost Rs 32,351.7 crore, with its market valuation falling to Rs 6.98 lakh crore.
ICICI Bank, Infosys, HDFC Bank, Larsen & Toubro Ltd. and ITC Ltd. were the other losers in the session.
HUL gained Rs 117.5 crore to reach market valuation of Rs 6.67 lakh crore.
RIL remained the most valued firm, followed by Tata Consultancy Services, HDFC Bank, Bharti Airtel, ICICI Bank, Infosys, SBI, HUL, ITC and L&T.
