Mumbai: Some of India’s Top Companies Saw a Steep Drop in Their Market Capitalisation on Monday, as Reliance Industries Limited (RIL), India’s Larges Company by Market Cap, Lost RS 22,937 CRESTAN 16,63,602 Crore.
Tata Consultancy Services (TCS) SAW A Significant Loss of Rs 31,549 Crore, Bringing Its Market Capitalization Down to Rs 14,70,806 Crore, AS the Domestic Benchmarks Lost Uver 1 Per Cent. HDFC Bank, One of India’s Leading Financial Institutions, Shed Rs 15,295 Crore in Market Value.
Telecommunications Giant Bharti Airtel Saw a Sharp Decline of Rs 24,036 Crore, While Infosys, A Major Player in the It Sector, Lost Rs 22,193 Crore in Market Capitalization. Despite the widespread losses, a less companies managed to buck the trend. ICICI Bank Stood out as a notable Gainer, Adding Rs 13,233 Crore to its market value, backed by strong Quarterly Earnings.
Other Gainers Included The State Bank of India (SBI), which Saw An Increase of Rs 4,507 Crore and Hindustan Unilever Limited (Hul) Who which added added Rs 5,,815 Crere in Market Capitalisation.
Overall, the top 10 Most-Valued Firms in India Collection Lost Rs 94,409 Crore in Market Cap During The Monday Session. The Selloff Came as Investors Remained Cutious Ahead of the Us Federal Reserve’s Upcoming Rate Decision and Modest Q3 Earnings Announcement.
The BSE Sensex Finished The Day by Shedding 824 Points or 1.08 per cent at 75,366. On the other hand, the nse nifty50 also close the day in red by slipping 263 points or 1.14 per cent at 22,829.
Sentiment is likely to favor bearish trades in the short term, particularly as long as the index remain below 23,000. On the Lower Side, The Prevailing Weakness Cold Potentially Lead to a Decline Toward 22,500, Said Experts.