Top 10 Most Valued Firms Lose Rs 7,900 Crore Market Cap As SBI, Bharti Airtel Drag
ITC was the only gainer in the session, with its market cap rising by Rs 2,245 crore to Rs 6.08 lakh crore.
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The top 10 most valued firms together lost Rs 7,931 crore in market valuation on Tuesday as State Bank of India and Bharti Airtel Ltd. dragged. HDFC Bank Ltd. and ICICI Bank Ltd. were also among the losers for the day.
The benchmark equity indices fell for the third consecutive session on Tuesday and closed at the lowest level in over a month, as they erased all their morning gains in the second half of the session.
The NSE Nifty 50 fell 63.05 points, or 0.26%, to end at 23,992.55, while the S&P BSE Sensex closed 166.33 points, or 0.21%, down at 78,593.07. During the day, the Nifty had risen as much as 1.36% and the Sensex had jumped 1.39%.
SBI lost Rs 12,450 crore, taking its market capitalisation to Rs 7.11 lakh crore, while Bharti Airtel lost Rs 12,125 crore, taking its market cap to Rs 8.69 lakh crore.
The valuation of HDFC Bank fell by Rs 9,908 crore to Rs 12.16 lakh crore. ICICI Bank also lost Rs 3,437 crore, taking its market capitalisation to Rs 8.19 lakh crore.
ITC Ltd. was the only gainer in the session, with its market cap rising by Rs 2,245 crore to Rs 6.08 lakh crore.
Reliance Industries Ltd. remained the most valued firm, followed by Tata Consultancy Services, HDFC Bank, Bharti Airtel, ICICI Bank, State Bank of India, Infosys, Hindustan Unilever Ltd., ITC, and Larsen & Toubro Ltd.
