Market declines due to foreign investor selling, weak quarter earnings
At the close, the Sensex fell by 1.2 per cent or 942 points to 78782.24, while the Nifty dropped 1.27 per cent or 309 points to 23995.35.
The combined market valuation of eight of the top-10 most valued firms eroded by Rs 2,01,699.77 crore last week.
Among these firms, Reliance Industries and Tata Consultancy Services emerged as the biggest laggards.
In the rank-wise performance for the companies, Reliance Industries remained the most-valued domestic firm.
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This was followed by TCS, HDFC Bank, Airtel, ICICI Bank, Infosys, State Bank of India, Hindustan Unilever, LIC, and ITC.
Reliance Industries tumbled Rs 60,824.68 crore to Rs 19,82,282.42 crore while Tata Consultancy Services (TCS) slumped Rs 34,136.66 crore to Rs 16,12,762.51 crore.
State Bank of India’s valuation dropped Rs 29,495.84 crore to Rs 6,98,440.13 crore and that of Bharti Airtel decreased by Rs 28,379.54 crore to Rs 8,76,207.58 crore.
Infosys mcap tanked Rs 17,061.44 crore to Rs 7,89,819.06 crore and that of Life Insurance Corporation of India (LIC) eroded by Rs 16,381.74 crore to Rs 6,57,009.14 crore.
ICICI Bank’s mcap declined Rs 15,169.76 crore to Rs 8,51,204.65 crore and that of ITC was down Rs 250.11 crore to Rs 6,27,337.65 crore.
Hindustan Unilever added Rs 14,179.78 crore, taking its market valuation to Rs 6,66,919.73 crore.
The mcap of HDFC Bank climbed Rs 3,735.35 crore to Rs 12,47,941.78 crore.
Last week, the BSE benchmark dropped 1,181.84 points, or 1.43 per cent.
On Friday, benchmark indices ended lower for the third consecutive session. Nifty fell near 24,800 while the Sensex broke 81,000-mark.
The Nifty 50 declined by 1.17 per cent, to close at 24,852 points, while the BSE Sensex fell 1.25 per cent, ending at 81,170 points.
Nifty 50 index opened downside at 25,093 and touched an intraday low of 24,801, losing around 479 points in three sessions.
Sensex opened with a downside gap at 82,171 and touched an intraday low of 80,981, logging an intraday loss of 1,220 points. In terms of the performance for the whole week, BSE Sensex and Nifty50 indices shed 1.5 per cent each.
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