Mcap of 6 of top-10 valued firms erodes by Rs 1.36 lakh crore; Reliance Industries hit hard

The combined market valuation of six of the top 10 valued firms eroded by Rs 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 per cent, and the NSE Nifty declined 202.05 points or 0.82 per cent.

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 Rs 34,710.8 crore to Rs 18,51,174.59 crore. HDFC Bank’s market capitalisation (mcap) tanked Rs 29,722.04 crore to Rs 15,14,303.58 crore.

The mcap of ICICI Bank fell by Rs 24,719.45 crore to Rs 10,25,495.69 crore, and that of Infosys dropped by Rs 19,504.31 crore to Rs 5,91,423.02 crore.

The valuation of Bharti Airtel declined by Rs 15,053.55 crore to Rs 10,59,850.32 crore, and that of Hindustan Unilever by Rs 12,441.09 crore to Rs 5,87,021.88 crore.

However, the mcap of LIC jumped Rs 17,678.37 crore to Rs 5,77,187.67 crore. The valuation of TCS climbed Rs 11,360.8 crore to Rs 10,97,908.66 crore.

State Bank of India added Rs 9,784.46 crore, taking its valuation to Rs 7,42,649.34 crore, and that of Bajaj Finance went up by Rs 186.43 crore to Rs 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.