Top 10 Most Valued Firms Lose Rs 32,734 Crore Market Cap Led By HUL, SBI
The market value of HUL dropped nearly Rs 10,667.14 crore to Rs 6.39 lakh crore, while that of SBI fell by Rs 8,879.99 crore to Rs 7.62 lakh crore.
The top 10 most valued firms together lost Rs 32,734 crore in market valuation on Wednesday, with FMCG major Hindustan Unilever Ltd. and State Bank of India emerging as the biggest losers. However, Reliance Industries Ltd. remained the only gainer for the day.
India's benchmark stock indices extended losses for the fourth session on Wednesday as financial services stocks dragged the indices.
The NSE Nifty 50 settled 65.55 points, or 0.27%, lower at 24,413.50, while the S&P BSE Sensex ended down 280.16 points, or 0.35%, at 80,148.88.
The market value of HUL dropped nearly Rs 10,667.14 crore to Rs 6.39 lakh crore, while that of SBI fell by Rs 8,879.99 crore to Rs 7.62 lakh crore. Larsen and Toubro Ltd., which will announce its earnings today, lost Rs 2,206.15 crore in market capital.
Among the top 10 valued firms, Reliance Industries Ltd. was the only gainer, with its market cap rising by Rs 8,254.72 crore to Rs 20.21 lakh crore.
Bharti Airtel Ltd. lost Rs 6,318.08 crore, bringing its market value to Rs 8.75 lakh crore, while HDFC Bank Ltd. lost Rs 6,263.8 crore, thereby ending the day with a market value of Rs 12.21 lakh crore.
Reliance Industries was the most valued firm, followed by Tata Consultancy Services Ltd., HDFC Bank, Bharti Airtel Ltd., ICICI Bank Ltd., SBI, Infosys Ltd., Hindustan Unilever, ITC Ltd., and L&T.
