M-cap of 9 out of 10 top firms plunges by Rs 2.2 lakh crore; Reliance Industries lone gainer
BusinessToday.In February 28, 2021
The market capitalisation (m-cap) of nine out of 10 most-valued firms plummeted by Rs 2,19,920.71 crore last week. This was in line with a bearish broader market trend. While Sensex lost 1,789 points or 3.52 per cent, Nifty fell 452 points or 3.02 per cent during the week.
Bucking the trend, Reliance Industries (RIL), the country's most valued firm, was the lone gainer in the list of top 10 most-valued companies.
IT major Tata Consultancy Services (TCS) was among top losers, followed by HDFC Bank, ICICI Bank, Infosys, HDFC, HUL, Bajaj Finance, Kotak Mahindra Bank, among others.
TCS saw its market cap eroding by Rs 81,506.34 crore to Rs 10,71,263.77 crore. The valuation of HDFC Bank dipped by Rs 2,202.12 crore to Rs 8,45,552.53 crore.
The m-cap of ICICI Bank plunged by Rs 18,098.57 crore to Rs 4,13,078.87 crore and that of Hindustan Unilever Ltd by Rs 11,536.32 crore to Rs 5,00,937.14 crore.
As per the exchange data, HDFC's m-cap declined by Rs 35,389.88 crore to Rs 4,57,518.73 crore and that of Infosys by Rs 16,613.57 crore to Rs 5,33,487.07 crore.
The market capitalisation of Bajaj Finance fell by Rs 15,712.46 crore to Rs 3,15,653.33 crore and that of Kotak Mahindra Bank dipped Rs 30,695.43 crore to Rs 3,53,081.63 crore.
After three sessions of gains, Indian benchmark indices ended sharply lower on Friday, tracking weakness from global equities. Sensex ended 1,939 points lower at 49,099 and Nifty fell by 586 points to 14,529. Sectorally, all the indices ended in red, while PSU bank, private and financial indices were among top losers, falling up to 5 per cent.
With PTI inputs