Saturday, 20 May 2023

Mcap of top valued firms erodes by Rs 70,487 cr; RIL, TCS biggest laggards

Six of the 10 most valued firms faced a combined erosion of Rs 70,486.95 crore in their market valuation last week, with Reliance Industries and Tata Consultancy Services (TCS) taking the biggest hit following a weak trend in equities. While Reliance Industries, TCS, HDFC Bank, ITC, State Bank of India and HDFC were the laggards from the top 10 pack, ICICI Bank, Hindustan Unilever, Infosys and Bharti Airtel were the gainers. Last week, the BSE Sensex declined 298.22 points or 0.48 per cent. "Markets took a breather last week and shed half a per cent amid mixed cues. The beginning was upbeat, however, profit-taking in heavyweights across sectors pushed the index lower in the following sessions," Ajit Mishra, VP - Technical Research at Religare Broking Ltd, said. Among major losers, the market valuation of Reliance Industries fell by Rs 27,941.49 crore to Rs 16,52,702.63 crore and that of TCS eroded by Rs 19,027.06 crore to Rs 11,78,854.88 crore. HDFC Bank's valuation declined by Rs

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Goldprice dips Rs 10 to Rs 62,720, silver falls Rs 100 to Rs 74,900

The price of 22-carat gold also fell Rs 10 with the yellow metal selling at Rs 57,490 from Markets https://ift.tt/rpZGNwM