During the morning session, the banking stock came down by 2.27 per cent to ₹761.25 apiece on the BSE. At 2:30 p.m., the stock was trading at ₹759.25, marking a decline of 2.52 per cent on the exchange.
HDFC Bank, State Bank of India, Canara Bank and Punjab National Bank were among the major laggards, declining up to 3 per cent.
RBI has approved a transition plan at HDFC Bank after its chairman stepped down, while investors reacted sharply, pushing the stock lower during Thursday’s trading session.
Last week, the combined market valuation of eight of the top-10 most-valued firms eroded by Rs 2,81,581.53 crore.
The combined market valuation of eight of the top 10 valued firms spiked by Rs 4.55 trillion last week. In the list, Reliance Industries emerged as the biggest winner.
Last week, the combined market valuation of eight of the top-10 most valued firms eroded by Rs 2,24,630.45 crore. Reliance Industries and HDFC Bank took the biggest hit.
In a holiday-shortened last week, the combined market valuation of five of the top 10 most valued firms increased by Rs 60,675.94 crore. State Bank of India and HDFC Bank emerged as the lead gainers in line with a positive trend in equities.
Last week, the combined market valuation of 6 of the top 10 most valued firms declined by Rs 94,433.12 crore. BSE benchmark tumbled 742.74 points or 0.90 per cent.
The Indian stock market witnessed strong positive momentum this week, helping nine of the country’s ten most valued companies collectively add Rs 1,00,850.96 crore to their market capitalisation.
Notably, Lilavati sought regulatory action and criminal prosecution against the bank’s top executive over an alleged financial fraud.
