Market records steepest weekly declines in over two years
At close, Sensex ended near the 78,000 mark, shedding 1.5% from the previous session, while the Nifty fell below 23,600, also down 1.5%.
Four of the top 10 valued Indian firms together added Rs 34,982.23 crore to their market valuation last week, with ITC emerging as the biggest gainer.
While Tata Consultancy Services (TCS), HUL, ITC and Infosys saw a rise in their market capitalisation (m-cap) for the week ended Friday, RIL, HDFC Bank, HDFC, Maruti Suzuki India, SBI and Kotak Mahindra Bank suffered losses.
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The cumulative loss of these six firms stood at Rs 32,909.65 crore.
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ITC’s valuation zoomed Rs 11,062.56 crore to Rs 3,83,522.35 crore.
The m-cap of Infosys surged Rs 10,079.75 crore to Rs 3,12,625.06 crore and that of Hindustan Unilever Ltd (HUL) rose Rs 6,948.48 crore to Rs 3,85,477.99 crore.
Also, TCS added Rs 6,891.44 crore to Rs 7,70,251.90 crore in its m-cap.
On the other hand, HDFC’s valuation slumped Rs 15,504.38 crore to Rs 3,18,387.95 crore.
The m-cap of HDFC Bank plunged Rs 10,231.45 crore to Rs 5,63,000.81 crore and that of Kotak Mahindra Bank dived Rs 4,546.58 crore to Rs 2,40,759 crore.
State Bank of India (SBI) lost Rs 2,186.53 crore to Rs 2,69,522.54 crore from its valuation.
The market cap of Reliance Industries Limited (RIL) dipped Rs 348.57 crore to Rs 7,62,704.47 crore and that of Maruti fell by Rs 92.14 crore to Rs 2,76,351.90 crore.
In the ranking of top 10 firms, TCS stood at number one position followed by RIL, HDFC Bank, HUL, ITC, HDFC, Infosys, Maruti, SBI and Kotak Mahindra Bank.
Over the last week, the Sensex recorded a rise of 78.65 points, or 0.21 per cent to end at 37,947.88.
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