Stock Market ends in the red; Sensex loses 500 points
The Indian stock market ended in the red on Tuesday, with the Nifty falling below the 23,900-mark and the Sensex dropping nearly 500 points.
Last week, the combined market valuation of seven of the top 10 most valued firms spiked by Rs 1,55,710.74 crore.
Reliance Industries and Tata Consultancy Services emerged as the biggest gainers amid a positive trend in domestic equities.
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Reliance Industries, Bharti Airtel, Tata Consultancy Services (TCS), State Bank of India, Bajaj Finance, Infosys, and Life Insurance Corporation of India (LIC) were the gainers, while HDFC Bank, ICICI Bank, and Hindustan Unilever saw their valuations erode.
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In a rank-wise analysis, Reliance Industries remained the most valued domestic firm. It was followed by HDFC Bank, Bharti Airtel, TCS, ICICI Bank, State Bank of India, Bajaj Finance, Infosys, Hindustan Unilever Ltd and LIC.
Reliance Industries added Rs 46,687.03 crore, taking its market valuation to Rs 19,64,170.74 crore, while the market capitalisation (mcap) of TCS jumped by Rs 36,126.6 crore to Rs 11,08,021.21 crore.
The valuation of State Bank of India climbed by Rs 13,892.07 crore to Rs 8,34,817.05 crore while LIC added Rs 2,340.25 crore, taking its market valuation to Rs 5,62,513.67 crore.
The mcap of Bajaj Finance edged higher by Rs 11,947.17 crore to Rs 6,77,846.36 crore.
Infosys surged by Rs 34,938.51 crore to Rs 6,33,712.38 crore, and that of Bharti Airtel rose by Rs 9,779.11 crore to Rs 11,57,014.19 crore.
The mcap of ICICI Bank eroded by Rs 43,744.59 crore to Rs 9,82,746.76 crore, and that of HDFC Bank declined by Rs 11,983.68 crore to Rs 15,28,227.10 crore.
The valuation of Hindustan Unilever dived by Rs 20,523.68 crore to Rs 5,91,486.10 crore.
The stock market on Friday snapped a six-day winning streak and dragged Nifty near 25,700 intraday. The development comes amid selling across the sectors, barring metal and telecom names.
At close, the Sensex was down 344.52 points or 0.41 per cent at 84,211.88, and the Nifty was down 96.25 points or 0.37 per cent at 25,795.15. BSE Midcap and Smallcap indices are trading flat.
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