Indian equities have been in a downtrend over the last month. The Nifty 50 had made a record high of 26,277 exactly a month earlier on September 27. Since then, the index had corrected over 2,000 points until closing on Friday. As of closing on September 27, the combined market capitalisation of BSE-listed companies stood at ₹477 lakh crore, which as of Friday’s closing, fell to ₹436 lakh crore, a drop of ₹41 lakh crore in a month. While most of the downside has come from Nifty 50 constituents, prominent broader market names also feature in this list. Here’s a look:
Reliance Industries shares have declined 13% since September 27, the day the Nifty made its record high. Since then, the Nifty heavyweight has lost ₹2.77 lakh crore in market capitalisation. From its own peak, which is around levels of ₹3,200, the stock has seen losses of close to 18%. Shares are trading ex-bonus from Monday’s trading session, having announced a 1:1 bonus issue earlier.
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