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 nine of the top 10 most valued Indian companies diminished by Rs 81,804.34 crore last week, with Mukesh Ambani-led Reliance Industries Ltd (RIL) taking the biggest hit.
Barring Maruti Suzuki India, rest of the nine companies including, State Bank of India (SBI), Infosys, Tata Consultancy Services (TCS) and HDFC suffered losses in their market capitalisation (m-cap) for the week ended Friday.
Among the top 10 firms, RIL was the worst hit as its m- cap slumped by Rs 25,110.60 crore to Rs 5,76,213.96 crore.
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The valuation of SBI plunged by Rs 17,005.15 crore to Rs 2,69,794.84 crore; Infosys (Rs 11,818.04 crore to Rs 2,20,166.80 crore); TCS (Rs 11,141.16 crore to Rs 5,03,562.92 crore) and HDFC (Rs 8,127.28 crore to Rs 2,64,934.96 crore).
The m-cap of ITC declined by Rs 6,084.85 crore to Rs 3,11,164.96 crore and that of HUL plummeted by Rs 3,106.03 crore to Rs 2,71,068.47 crore.
HDFC Bank lost Rs 1,555.84 crore to Rs 4,77,135.50 crore and ONGC Rs 1,475.82 crore to Rs 2,30,677.40 crore.
On the other hand, the only gainer in the top 10 list, Maruti Suzuki India, added Rs 3,620.43 crore to its valuation to reach Rs 2,60,016.92 crore.
In the ranking of top-10 firms, RIL stood at the numero uno spot followed by TCS, HDFC Bank, ITC, HUL, SBI, HDFC, Maruti Suzuki India, ONGC and Infosys.
Over the last week, the Sensex plunged 846.30 points, or 2.51 per cent, while the Nifty declined 267.90 points, or 2.57 per cent.
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