Markets end lower with auto, IT stocks under pressure
The benchmark indices ended lower on Friday, with auto and Information Technology stocks remaining under pressure amid concern over the upcoming US tariffs.
Last week, nine of the top 10 most valued firms together lost a whopping Rs 2,09,952.26 crore from market valuation. Hindustan Unilever and Reliance Industries Limited took the biggest hit.
From the top 10 pack, HDFC Bank emerged as the only winner.
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Reliance Industries retained the title of the most valued firm, followed by TCS, HDFC Bank, Bharti Airtel, ICICI Bank, Infosys, State Bank of India, ITC, Hindustan Unilever and LIC.
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State Bank of India’s market valuation plummeted by Rs 35,117.72 crore to Rs 6,96,655.84 crore, and that of ICICI Bank went lower by Rs 5,280.11 crore to Rs 8,84,911.27 crore.
The market valuation of Hindustan Unilever eroded by Rs 44,195.81 crore to Rs 5,93,870.94 crore. Reliance Industries’ valuation tumbled Rs 41,994.54 crore to Rs 17,96,726.60 crore.
ITC’s mcap fell by Rs 5,690.96 crore to Rs 6,02,991.33 crore, and that of Bharti Airtel tanked by Rs 24,108.72 crore to Rs 9,47,598.89 crore.
The mcap of HDFC Bank jumped Rs 46,891.13 crore to Rs 13,29,739.43 crore.
On Friday, the market faced a significant selloff with Sensex and Nifty dropping nearly 1 per cent.
Sensex was down 662.87 points or 0.83 per cent at 79,402.29, and the Nifty was down 218.60 points or 0.90 per cent at 24,180.80.
The market’s fall wiped out nearly Rs 9 lakh crore in market capitalisation in a single day, with the total market value of BSE-listed firms plunging to about Rs 435 lakh crore from Rs 444 lakh crore in the previous session.
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