Reliance Industries’ stock tanks 23 pc from its July high
The stock of Reliance Industries Limited (RIL), India's largest company by market capitalisation, has slipped by 23 per cent from its highest level in July this year.
Last week, six of the top 10 most valued firms together added Rs 86,847.88 crore in market valuation.
HDFC Bank and Reliance Industries emerged as the biggest gainers in line with an overall optimistic trend in equities.
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On the gaining side were Reliance Industries, HDFC Bank, ICICI Bank, Bharti Airtel, ITC and Hindustan Unilever, while Tata Consultancy Services (TCS), Infosys, State Bank of India and Life Insurance Corporation of India (LIC) suffered erosion.
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The market capitalisation (mcap) of HDFC Bank surged by Rs 20,235.95 crore to Rs 13,74,945.30 crore while the other private lender, ICICI Bank climbed Rs 15,254.01 crore to Rs 9,22,703.05 crore.
The valuation of two key public sector players, State Bank of India tumbled by Rs 11,557.39 crore to Rs 7,13,567.99 crore while LIC declined by Rs 8,412.24 crore to Rs 5,61,406.80 crore,
Tech giant Infosys dropped by Rs 2,283.75 crore to Rs 7,95,803.15 crore, and TCS dipped by Rs 36.18 crore to Rs 15,08,000.79 crore.
The market cap of Bharti Airtel soared Rs 11,948.24 crore to Rs 9,10,735.22 crore, and Hindustan Unilever rallied Rs 1,245.29 crore to Rs 5,49,863.10 crore.
The valuation of ITC jumped Rs 17,933.49 crore to Rs 5,99,185.81 crore.
Reliance Industries added Rs 20,230.9 crore, taking its valuation to Rs 16,52,235.07 crore.
The rank-wise top 10 companies for the week were Reliance Industries followed by TCS, HDFC Bank, ICICI Bank, Bharti Airtel, Infosys, State Bank of India, ITC, LIC and Hindustan Unilever.
Last week, the BSE benchmark climbed 657.48 points or 0.84 per cent, and the Nifty rose 225.9 points or 0.95 per cent.
Stock market ended higher on Friday driven by gains. The domestic market witnessed low volatility in the absence of fresh triggers and traded on a positive note throughout the session.
Sensex advanced 226.59 points, 0.29 per cent to close at 78,699.07, while the Nifty rose 63.20 points, 0.27 per cent, to settle at 23,813.4.
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