Mcap: 8 of 10 most valued firms erodes by ₹2.08 lakh crore; Reliance, TCS biggest laggards
The combined market valuation of eight of the top-10 most valued firms declined by ₹2,08,207.93 crore last week, with bellwether Reliance Industries, TCS and Infosys taking the biggest hit.
While these three firms along with ITC, Life Insurance Corporation (LIC), Hindustan Unilever Ltd, Bharti Airtel and ICICI Bank were the laggards, HDFC Bank and State Bank of India (SBI) emerged as gainers.
Last week, the 30-share BSE Sensex tanked 1,449 points or 1.92 per cent. It rose by 75.71 points or 0.10 per cent to settle at 73,961.31 on Friday, snapping a five-day losing streak.
The market capitalisation (mcap) of index heavyweight Reliance Industries plunged by ₹67,792.23 crore to ₹19,34,717.12 crore, while TCS mcap declined by ₹65,577.84 crore to ₹13,27,657.21 crore.
The valuation of Infosys slumped by ₹24,338.1 crore to ₹5,83,860.28 crore, and that of ITC went lower by ₹12,422.29 crore to ₹5,32,036.41 crore.
Mcap of LIC dropped by ₹10,815.74 crore to ₹6,40,532.52 crore, while HUL’s valuation eroded by ₹9,680.31 crore to ₹5,47,149.32 crore.
Bharti Airtel’s mcap fell by ₹9,503.31 crore to ₹7,78,335.40 crore, and that of ICICI Bank dipped by ₹8,078.11 crore to ₹7,87,229.71 crore.
However, mcap of HDFC Bank climbed ₹10,954.49 crore to ₹11,64,083.85 crore.
SBI added ₹1,338.7 crore, taking the market valuation to ₹7,40,832.04 crore.
Reliance Industries remained the most valued firm from the top-10 pack, followed by TCS, HDFC Bank, ICICI Bank, Bharti Airtel, SBI, LIC, Infosys, Hindustan Unilever, and ITC.