HUL, SBI, 2 other blue-chip firms lose Rs 1.45 lakh crore in mcap in a week
Domestic equity benchmarks fell 2-3 per cent in a week that saw selling across sectors amid continuous FII outflows and a barrage of weak quarterly earnings. The Sensex took a hit of 1,822.5 points for the week while the Nifty50 lost 673.3 points.
Share Market News: Domestic equity benchmarks suffered steep losses in the trading week from October 21 to October 25 amid an across-the-board sell-off as foreign institutional investors continued to withdraw funds from Dalal Street. The Sensex shed 1,822.5 points, or 2.2 per cent, while the Nifty50 plunged 673.3 points, or 2.7 per cent. Investors lost Rs 21.2 lakh crore in wealth as the market capitalisation (mcap) of BSE-listed companies contracted to Rs 437 lakh crore from Rs 458.2 lakh crore, according to provisional exchange data. While all the sectoral gauges registered steep losses, the Nifty Metal, Nifty Realty, Nifty Oil & Gas, Nifty Consumer Durables, Nifty PSU Bank and Nifty Auto indices fell around 5-7 per cent each.
According to analysts, major companies' worse-than-expected earnings amid sustained selling by foreign institutional investors (FIIs) battered the sentiment on Dalal Street.
As of October 25, the Sensex has yet to gain 6,576 points, or 7.6 per cent, and the Nifty50 to recover 2,096.6, or 8.0 per cent, points to reach their all-time highs late last month.
| Index | Weekly change (%) |
| NIFTY MEDIA | -7.2 |
| NIFTY METAL | -7.2 |
| NIFTY REALTY | -7 |
| NIFTY OIL & GAS | -6.2 |
| NIFTY CONSUMER DURABLES | -5.8 |
| NIFTY PSU BANK | -5.8 |
| NIFTY AUTO | -5.4 |
| NIFTY FMCG | -3.5 |
| NIFTY PHARMA | -3.3 |
| NIFTY PRIVATE BANK | -3.1 |
| NIFTY HEALTHCARE INDEX | -2.7 |
| NIFTY MIDSMALL HEALTHCARE | -2.5 |
| NIFTY BANK | -2.5 |
| NIFTY FINANCIAL SERVICES 25/50 | -2.3 |
| NIFTY FINANCIAL SERVICES | -0.9 |
| NIFTY IT | -0.2 |
Among blue-chip stocks, Hindustan Unilever Ltd (HUL), Reliance Industries Ltd (RIL), State Bank of India (SBI), Bharti Airtel and Tata Consultancy Services (TCS) took the biggest hit, cumulatively losing Rs 1.7 lakh crore in market value during the week, according to provisional exchange data.
HUL's mcap eroded by Rs 44,195.8 crore and Reliance Industries' by Rs 41,994.5 crore. SBI lost Rs 35,117.7 crore and Bharti Airtel Rs 24,108.7 crore in mcap during the period. The Tata group IT giant's market capitalisation contracted by Rs 23,137.7 crore.
Barring HDFC Bank (up 3.7 per cent), Tech Mahindra (up 1.7 per cent), Bajaj Auto (up 1.4 per cent) and Bajaj Finance (up 0.2 per cent), all Nifty50 constitutents logged weekly losses.
IndusInd Bank, Tata Consumer Products, BPCL, Adani Enterprises, Hindalco, Mahindra & Mahindra, Shriram Finance and Larsen & Toubro (L&T), falling 7-22.7 per cent for the week) were the worst hit among the Nifty50 stocks.
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