Top 10 Firms By Market Value Lose Rs 67,500 Crore As RIL, SBI Drag
Market value of Reliance Industries dropped nearly Rs 73,717 crore to Rs 20.30 lakh crore. While that of SBI Bank fell to Rs 11,200 crore to Rs 7.82 lakh crore.
The top 10 most valued firms together lost Rs 67,533 crore in market capitalization on Monday, with Reliance Industries Ltd. and State Bank of India losing the most. However, RIL remained the most valued firm.
India's benchmark indices closed lower for the second consecutive session on Monday as investors looked forward to the Union Budget 2024 and more corporate earnings.
Shares of Reliance Industries Ltd., Kotak Mahindra Bank Ltd., ITC Ltd., Wipro Ltd. and ICICI Bank Ltd. negatively contributed to changes in the NSE Nifty 50 the most.
Nifty ended 21.65 points, or 0.09% down at 24,509.25, while the S&P BSE Sensex closed 102.57 points, or 0.13% lower at 80,502.08. Intraday, both indices rose over 0.2%.
The market value of Reliance Industries dropped nearly Rs 73,717 crore to Rs 20.30 lakh crore. While that of SBI fell to Rs 11,200 crore, taking its market value to Rs 7.82 lakh crore.
Among the top 10 valued firms, HDFC Bank Ltd. gained the most, with its market cap rising by Rs 26,763 crore to Rs 12.47 lakh crore. The market value of Infosys Ltd. rose by Rs 7,429 crore to Rs 7.51 lakh crore.
ITC Ltd. lost Rs 9,980 crore, taking the market value to Rs 5.82 lakh crore. Tata Consultancy Services Ltd. lost Rs 5,506 crore, taking its market value to Rs 15.68 lakh crore.
Reliance Industries was the most valued firm, followed by Tata Consultancy Services Ltd., HDFC Bank, ICICI Bank Ltd., Bharti Airtel Ltd., State Bank of India, Infosys Ltd., Hindustan Unilever Ltd., ITC Ltd., and Larsen and Toubro Ltd.
