On Wednesday, the top 10 most valued companies in the country lost a cumulative total of Rs 42,156.06 crore in market valuation, led by losses of ICICI Bank, Infosys and HDFC Bank. Reliance Industries, ITC and Hindustan Unilever suffered heavy losses. Ltd. was one of the day’s gainers.
Tech giant Infosys lost its market capitalization of Rs 16,816.15 crore to Rs 7,460 crore. ICICI Bank lost its market capitalization of Rs 13,281.12 crore to Rs 9,250 crore. HDFC Bank lost Rs 11,328.54 crore, reducing its market capitalization to Rs 13,250 crore.
Bharti Airtel Ltd, TCS Ltd, HCL Technologies Ltd and State Bank of India also reported market valuation losses on Wednesday.
NSE Nifty 50 and BSE Sensex resumed decline after two days of gains amid spike in market volatility due to fall in Infosys Ltd. and ICICI Bank Ltd. share prices. The NSE India Volatility Index ended at its highest level since August 13.
Nifty 50 ended 126 points (down 0.51%) at 24,340.85 and Sensex ended 426.85 points (down 0.53%) at 79,942.18.
