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.
The combined market valuation of the top 10 domestic firms eroded sharply by Rs 4.48 lakh crore last week. Major banks, including the State Bank of India and HDFC Bank, took the biggest hit.
The market valuation of the State Bank of India tumbled Rs 89,306.22 crore to Rs 9,66,261.05 crore, while HDFC Bank faced an erosion of Rs 61,715.32 crore to Rs 12,57,391.76 crore.
Advertisement
The valuation of Bajaj Finance dived Rs 59,082.49 crore to Rs 5,32,053.54 crore while the market capitalisation of ICICI Bank dropped by Rs 42,205.04 crore to Rs 8,97,844.78 crore.
Advertisement
The mcap of LIC diminished by Rs 31,245.49 crore to Rs 4,88,985.57 crore.
The valuation of Tata Consultancy Services (TCS) tanked Rs 53,312.52 crore to Rs 8,72,067.63 crore, and that of Infosys declined by Rs 24,230.96 crore to Rs 5,06,315.58 crore.
Hindustan Unilever’s mcap dipped by Rs 15,401.57 crore to Rs 5,07,640.94 crore, while Reliance Industries saw its valuation fall by Rs 33,289.88 crore to Rs 18,68,293.17 crore.
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, Hindustan Unilever, Infosys and LIC.
On Friday, the bears were leading as the Nifty was dragged below 23,150 intraday amid broad-based selling.
At close, the Sensex was down 1,470.50 points or 1.93% at 74,563.92, and the Nifty was down 488.05 points or 2.06% at 23,151.10. During the week, both indices declined over 5%, recording their biggest weekly fall in more than a year.
Advertisement
