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Reliance, TCS, HDFC Bank lose Rs 1.77 lakh crore as coronavirus jitters hit Indian market

Reliance Industries (RIL) which was overtaken by TCS as the most valuable company by market cap on 9 March due to the recent crude oil price crash, regained its top position today

Mudit Kapoor | March 24, 2020 | Updated 12:00 IST
Reliance, TCS, HDFC Bank lose Rs 1.77 lakh crore as coronavirus jitters hit Indian market

Top three companies by market capitilisation have lost Rs 1.77 lakh crore in the bloodbath on Dalal Street today. March 12, 2020 could be termed as black Thursday as it marks the biggest ever fall  recorded on Sensex by points. The 30 share BSE Sensex tumbled 3,204 points on an intraday basis. Investors lost Rs 11.4 lakh crore till closing.

In the previous session, market cap of TCS stood at Rs 7.33 lakh crore. Market cap of RIL and HDFC Bank stood at Rs 7.31 lakh crore and Rs 6.1 lakh crore, respectively .

Post the bloodbath of March 12, the rankings of India's biggest companies by market cap have changed. Market cap of RIL declined to Rs 6.73 lakh crore, TCS market cap fell to Rs 6.64 lakh crore while HDFC Bank's market cap fell to Rs 5.6 lakh crore.

While investors in RIL lost Rs 58,099 lakh crore , those in TCS suffered a Rs 69,306-crore erosion in their market wealth. For HDFC bank, the loss was just shy of Rs 50,000 crore.

Reliance Industries (RIL) which was overtaken by TCS as the most valuable company by market cap on 9 March due to the recent crude oil price crash, regained its top position today. The lesser loss in RIL's market cap due to some rebound in the crude oil prices from its multi-year low helped it beat TCS on the market capitalisation rankings .

The share price of top 10 companies, have taken a major hit on Black Thursday.

RIL's stock lost 7.9% value and closed at Rs 1061.6. Shares of TCS fell 9.3 per cent to close at Rs 1,769.8 while share of HDFC Bank ended the worse trading day at Rs 1,021.7 after losing 8.2 per cent.

Out of the top 10 companies, State Bank of India (SBI) was the biggest loser after its stock declined 13.2 percent to Rs 212.75.

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