Six of the ten most-valued Indian companies lost a combined ₹1.36 lakh crore in market capitalisation last week.
Reliance Industries was the biggest loser, followed by TCS and HDFC Bank.
The fall is attributed to weak market sentiment and selling pressure
Reliance Industries Sees Biggest Hit, Mcap of 6 Out of Top 10 Valued Firms Drops by ₹1.36 Lakh Crore
Heavyweights like Reliance, TCS, and HDFC Bank face sharp declines in market valuation amid weak market sentiment.
Reliance Industries
Summary
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The combined market valuation of six of the top 10 valued firms eroded by ₹1,36,151.24 crore last week, with Reliance Industries taking the biggest hit, following a bearish trend in equities.
Extending losing streak for the sixth consecutive week, the BSE benchmark dropped 742.12 points or 0.92%, and the NSE Nifty declined 202.05 points or 0.82%
From the top 10 pack, Reliance Industries, HDFC Bank, Bharti Airtel, ICICI Bank, Infosys and Hindustan Unilever faced erosion in their valuations while Tata Consultancy Services (TCS), State Bank of India, Life Insurance Corporation of India (LIC) and Bajaj Finance were the gainers.
The valuation of Reliance Industries tumbled ₹34,710.8 crore to ₹18,51,174.59 crore. HDFC Bank's market capitalisation (mcap) tanked ₹29,722.04 crore to ₹15,14,303.58 crore.
The mcap of ICICI Bank fell by ₹24,719.45 crore to ₹10,25,495.69 crore, and that of Infosys dropped by ₹19,504.31 crore to ₹5,91,423.02 crore.
The valuation of Bharti Airtel declined by ₹15,053.55 crore to ₹10,59,850.32 crore, and that of Hindustan Unilever by ₹12,441.09 crore to ₹5,87,021.88 crore.
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However, the mcap of LIC jumped ₹17,678.37 crore to ₹5,77,187.67 crore. The valuation of TCS climbed ₹11,360.8 crore to ₹10,97,908.66 crore.
State Bank of India added ₹9,784.46 crore, taking its valuation to ₹7,42,649.34 crore, and that of Bajaj Finance went up by ₹186.43 crore to ₹5,45,148.52 crore.
Reliance Industries remained the most valued firm, followed by HDFC Bank, TCS, Bharti Airtel, ICICI Bank, State Bank of India, Infosys, Hindustan Unilever, LIC and Bajaj Finance.
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