6 largecap stocks that made investors poorer by over Rs 65,000 crore in a day; LIC on the list
Domestic equity benchmarks saw slight declines on Tuesday, pulling back from recent record highs, primarily due to selling pressure in financial stocks like State Bank of India (SBI), ICICI Bank (ICICIBANK), and Bharti Airtel (BHARTIARTL). However, support came from buying interest in other major index constituents such as Larsen & Toubro (LT), Infosys (INFY), and Tata Consultancy Services (TCS). Of the 50 stocks in the Nifty universe, 28 closed in negative territory, with Shriram Finance (SHRIRAMFIN) experiencing the largest drop at 3.0 per cent.
Domestic equity benchmarks registered minor losses on Tuesday, retreating from record closing highs registered in the previous session, amid selling pressure in financial stocks such as State Bank of India (SBI), ICICI Bank (ICICIBANK) and Bharti Airtel (BHARTIARTL). However, buying interest in several other index heavyweights including Larsen & Toubro (LT), Infosys (INFY) and Tata Consultancy Services (TCS) lent some support to both main gauges.
As many as 28 stocks in the 50-scrip Nifty universe finished the day below the flatline, with Shriram Finance (SHRIRAMFIN) being the worst hit with a loss of 3.0 per cent.
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Here's a list of six stocks that closed around 1-2.5 per cent lower, eroding about Rs 65,207 crore of investors' wealth compared with the previous session, according to provisional exchange data.
Bharti Airtel fell 2.4% to close at Rs 1,418.6/share on BSE
Bharti Airtel (BHARTIARTL) shares finished Tuesday's session 2.4 per cent weaker, taking its market capitalisation - or market value - lower by Rs 19,718.9 crore to Rs 8,07,278.8 crore from the previous close, according to the data.
ICICI Bank stock dropped 1.8% to Rs 1,190.4/share
ICICI Bank's market capitalisation declined by Rs 15,303.7 crore to Rs 8,37,587.9 crore on Tuesday compared with the previous day, according to the data.
SBI stock declined 1.9% to Rs 826.4/share
A 1.9 per cent fall in State Bank of India shares on Tuesday resulted in a decline of Rs 14,056.3 crore in the PSU lender's market value to Rs 7,37,485.3 crore compared with the previous day, according to the data.
LIC stock declines over 1% to settle at Rs 985.2/share
The PSU life insurance behemoth's market value declined by Rs 7,178.9 crore to Rs 6,23,138.8 crore, according to the data.
HUL stock inches 0.7% lower to settle at Rs 2,485.2/share
The FMCG giant's market capitalisation declines by Rs 4,017.8 crore to Rs 5,83,908.7 crore, according to the data.
ITC stock weakens 0.9% to Rs 425.4/share
ITC shares ended 0.9 per cent lower at Rs 425.4 apiece on BSE, taking the cigarette maker's mcap lower by Rs 4,931.5 crore to Rs 5,31,037.6 crore, according to the data.
What is mcap? What does it signify?
Market capitalisation refers to the total value of a company's outstanding shares of stock. It is calculated by multiplying the current stock price by the total number of outstanding shares.
It is a key metric used by investors to assess a company's size and value in the market.