Sensex slipped 329.16 pts to 34,842.11 in the opening session on Monday and Nifty fell 91.50 pts to 10,291.50. Among individual stocks, Axis Bank, IndusInd Bank, and Bajaj Finance all tumbled over 3 per cent each. Meanwhile, shares of ITC rose as much as 4 per cent after the announcement of its March quarter results, reported Business Standard.
Shares in Mumbai-based Piramal Enterprises rose as much as 1.54 per cent to Rs 1,363.25 each on the BSE (Bombay Stock Exchange), after the company announced that Carlyle Group, a US-based investment firm, will purchase a 20 per cent stake in its pharmaceutical unit for around $490 million, reported NDTV.
Earlier, six of the 10 most valued Indian companies together added Rs 92,130.59 crore in market valuation, with Tata Consultancy Services emerging as the biggest gainer.
HDFC Bank, HUL, Infosys, Kotak Mahindra Bank and ITC also witnessed a jump in their market capitalisation (m-cap) for the week ended Friday, while Reliance Industries, HDFC, Bharti Airtel and ICICI Bank finished with losses.
TCS added Rs 25,722.6 crore to take its valuation to Rs 7,93,854.51 crore.
The market valuation of Infosys jumped Rs 18,104.7 crore to reach Rs 3,18,648.65 crore and that of Hindustan Unilever Limited (HUL) advanced Rs 14,614.2 crore to Rs 5,06,198.81 crore.
ITC's valuation rose by Rs 13,521.45 crore to Rs 2,39,821.43 crore and that of HDFC Bank climbed Rs 12,460.2 crore to Rs 5,79,553.80 crore.
Kotak Mahindra Bank added Rs 7,707.44 crore to its market capitalisation to stand at Rs 2,65,347.77 crore.
In contrast, HDFC's valuation plunged Rs 11,996.55 crore to Rs 3,06,600.66 crore.
The market valuation of Reliance Industries Ltd (RIL) dipped Rs 10,713.59 crore to Rs 11,04,704.44 crore and that of ICICI Bank declined Rs 9,645.67 crore to Rs 2,26,002.43 crore.
Bharti Airtel's market valuation fell by Rs 6,082.95 crore to Rs 3,05,674.88 crore.
In the ranking of top-10 firms, RIL maintained its top spot, followed by TCS, HDFC Bank, HUL, Infosys, HDFC, Bharti Airtel, Kotak Mahindra Bank, ITC and ICICI Bank.
(With PTI inputs)