Sunday, 6 August 2023

M-cap of 7 of top-10 valued firms erode by Rs 1 trn, SBI biggest laggard

The combined market valuation of seven of the top-10 most valued firms eroded by Rs 1,09,947.86 crore last week, with State Bank of India taking the biggest hit, in-tandem with weak trend in equities. Last week, the BSE benchmark fell by 438.95 points or 0.66 per cent. From the top-10 pack, Reliance Industries, ICICI Bank, Hindustan Unilever, ITC, State Bank of India, Bharti Airtel and Bajaj Finance were the laggards while Tata Consultancy Services (TCS), HDFC Bank and Infosys witnessed addition in their market valuation. The valuation of State Bank of India tumbled Rs 38,197.34 crore to Rs 5,11,603.38 crore. Shares of State Bank of India on Friday fell by nearly 3 per cent after the company's first quarter earnings failed to cheer investors. The market capitalisation (mcap) of ICICI Bank eroded by Rs 17,201.84 crore to Rs 6,79,293.90 crore. ITC's valuation tanked Rs 16,846.18 crore to Rs 5,66,886.01 crore and that of Bajaj Finance fell by Rs 14,366.34 crore to Rs 4,32,932.18 ...

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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