Stock market ends lower amid selling in select heavyweights
At the close, the Sensex was 142 points, or 0.19%, lower at 75,867.80, while the Nifty 50 settled with a nominal loss of 7 points, or 0.03%, at 23,907.15.
Last week, the combined market valuation of eight of the top-10 most-valued firms eroded by Rs 2,81,581.53 crore.
State Bank of India (SBI) took the biggest hit with its market valuation tumbling Rs 53,952.96 crore to Rs 10,55,567.27 crore.
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In a rank-wise analysis, Reliance Industries remained the most valued domestic firm followed by HDFC Bank, Bharti Airtel, State Bank of India, ICICI Bank, TCS, Bajaj Finance, Larsen & Toubro, Infosys, and Hindustan Unilever.
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From the top-10 pack, only Reliance Industries and Infosys were the gainers.
The market valuation of Reliance Industries jumped Rs 14,750.39 crore to Rs 19,01,583.05 crore while the mcap of Infosys climbed Rs 3,459.99 crore to Rs 5,30,546.54 crore.
Among the private lenders, ICICI Bank’s valuation eroded by Rs 46,936.82 crore to Rs 9,40,049.82 crore and that of HDFC Bank dived Rs 46,552.3 crore to Rs 13,19,107.08 crore.
The market capitalisation (mcap) of Bajaj Finance dropped by Rs 28,934.56 crore to Rs 5,91,136.03 crore.
The valuation of Larsen & Toubro tanked Rs 45,629.03 crore to Rs 5,43,208.36 crore. Hindustan Unilever’s mcap declined by 26,350.67 crore to Rs 5,23,042.51 crore and that of Bharti Airtel edged lower by Rs 4,732.75 crore to Rs 10,67,120.50 crore.
The valuation of Larsen & Toubro tanked Rs 45,629.03 crore to Rs 5,43,208.36 crore. Tata Consultancy Services (TCS) decreased by Rs 28,492.44 crore to Rs 9,25,380.15 crore.
On Friday, the stock market failed to sustain gaining momentum and slipped over 1%. Nifty was down at 24,450 amid selling pressure across the sectors.
At close, the Sensex was down 1,097 points or 1.37% at 78,918.90, and the Nifty was down 315.45 points or 1.27% at 24,450.45.
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