The combined market valuation of six of the top-10 most valued firms eroded by Rs 78,166.08 crore last week, with Reliance Industries taking the biggest hit, in line with weak trends in equities.
Mcap of 6 of Top-10 Most Valued Firms Erodes by Rs 78,166 crore; Reliance Biggest Laggard
Six of India’s top 10 most valued firms lost a combined Rs 78,166 crore in m-cap last week, with Reliance Industries seeing the steepest decline
The loss in m-cap aligned with market weakness as the Sensex and Nifty both fell more than 0.6%
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Last week, the BSE benchmark dropped 609.51 points or 0.74% and the Nifty declined 166.65 points or 0.66%.
While Reliance Industries, TCS, ICICI Bank, State Bank of India, Infosys and Hindustan Unilever were the laggards, HDFC Bank, Bharti Airtel, Bajaj Finance and ITC were the gainers from the top-10 pack.
The market valuation of Reliance Industries declined by Rs 40,800.4 crore to Rs 19,30,339.56 crore. Tata Consultancy Services' valuation dropped by Rs 17,710.54 crore to Rs 12,71,395.95 crore.
The valuation of Infosys went lower by Rs 10,488.58 crore to Rs 6,49,876.91 crore and that of Hindustan Unilever eroded by Rs 5,462.8 crore to Rs 5,53,974.88 crore.
The market capitalisation (mcap) of ICICI Bank edged down by Rs 2,454.31 crore to Rs 10,33,868.01 crore and that of State Bank of India dipped by Rs 1,249.45 crore to Rs 7,05,446.59 crore.
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However, the mcap of Bharti Airtel jumped Rs 10,121.24 crore to Rs 10,44,682.72 crore.
The valuation of Bajaj Finance surged Rs 4,548.87 crore to Rs 5,74,207.54 crore and that of ITC climbed Rs 875.99 crore to Rs 5,45,991.05 crore.
The mcap of HDFC Bank went up by Rs 399.93 crore to Rs 14,80,723.47 crore. Reliance Industries remained the most valuable firm followed by HDFC Bank, TCS, Bharti Airtel, ICICI Bank, State Bank of India, Infosys, Bajaj Finance, Hindustan Unilever and ITC.
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