Eight of top 10 firms lose Rs 2.28 lakh cr in mcap; HDFC Bank, Reliance biggest laggards The combined market valuation of eight of the 10 most valued firms plunged by Rs 2,28,690.56 crore in a holiday-shortened last week, with HDFC Bank and Reliance Industries taking the biggest hit, amid an overall weak trend in equities. Last week, the BSE benchmark fell 1,829.48 points or 2.69 per cent, and the Nifty declined 518.1 points or 2.56 per cent. Equity markets were closed on Tuesday on account of Ganesh Chaturthi. From the top-10 pack, Reliance Industries, HDFC Bank, ICICI Bank, Infosys, ITC, State Bank of India, Bharti Airtel and Bajaj Finance were the laggards while Tata Consultancy Services (TCS) and Hindustan Unilever were the gainers. The market valuation of HDFC Bank plummeted by Rs 99,835.27 crore to Rs 11,59,154.60 crore. Shares of the company fell by nearly 8 per cent last week. The market capitalisation (mcap) of Infosys declined by Rs 6,744.34 crore to Rs 6,20,893.53 crore and that of ITC went lower by Rs 6,484.52 crore to Rs 5,52,680.92 crore. The mcap of Bajaj Finance fell by Rs 1,266.37 crore to Rs 4,52,773 crore and that of State Bank of India dipped Rs 267.74 crore to Rs 5,33,781.04 crore. However, Hindustan Unilever added Rs 2,913.49 crore taking its valuation to Rs 5,83,239.04 crore. The mcap of TCS climbed Rs 1,024.53 crore to Rs 13,18,228.14 crore. In the ranking of top-10 firms, Reliance Industries remained the most valued company followed by TCS, HDFC Bank, ICICI Bank, Infosys, Hindustan Unilever, ITC, State Bank of India, Bharti Airtel and Bajaj Finance.
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FII and DII trades: Foreign Institutional Investors (FII) have been net buyers of domestic stocks for successive days now. On Wednesday, FIIs pumped in Rs 2,347 crore. Domestic Institutional Investors (DII) have been net sellers, pulling out Rs 510 crore yesterday.
IPO watch: Syrma SGS Technology enters the final day of bidding today. So far the issue, that opened last week, has been subscribed 2.27 times. Retail investors have subscribed their portion 2.66 times while NIIs have bid for their quota 3.58 times and QIB portion has been bid for 0.71 times.