Mcap of nine of top-10 most valued firms slumps by Rs 2.9 lakh crore; TCS, RIL hit hard
The combined market valuation of nine of the top-10 most valued firms eroded by Rs 2,94,170.16 crore in the holiday-shortened last week, with Tata Consultancy Services taking the biggest hit amid a bearish trend in domestic equities.
Last week, the BSE benchmark gauge Sensex tanked 2,050.23 points or 2.64 per cent, while the NSE Nifty declined 614.8 points or 2.61 per cent.
From the top-10 pack, Tata Consultancy Services (TCS), Reliance Industries, Infosys, Bajaj Finance, ICICI Bank, HDFC Bank, Hindustan Unilever Ltd, State Bank of India and ITC faced erosion from their market valuation. Bharti Airtel emerged as the only gainer.
The market valuation of TCS tumbled by Rs 1,10,351.67 crore to Rs 11,93,769.89 crore.
The valuation of index bellwether Reliance Industries tanked by Rs 95,132.58 crore to Rs 16,30,244.96 crore and that of Infosys plunged by Rs 49,050.04 crore to Rs 6,03,178.45 crore.
Bajaj Finance’s market capitalisation (mcap) declined by Rs 14,127.07 crore to Rs 5,40,588.05 crore and that of ICICI Bank dropped by Rs 9,503.66 crore to Rs 9,43,264.95 crore.
Private sector lender HDFC Bank’s valuation diminished by Rs 8,800.05 crore to Rs 13,90,408.68 crore and that of Hindustan Unilever Ltd dipped by Rs 3,500.89 crore to Rs 5,27,354.01 crore.
The market capitalisation (mcap) of the State Bank of India slumped by Rs 3,391.35 crore to Rs 6,85,232.33 crore and that of ITC slipped by Rs 312.85 crore to Rs 5,12,515.78 crore.
However, the mcap of Bharti Airtel climbed Rs 7,013.59 crore to Rs 9,94,019.51 crore.
Reliance Industries retained the most valued company, followed by HDFC Bank, TCS, Bharti Airtel, ICICI Bank, State Bank of India, Infosys, Bajaj Finance, Hindustan Unilever and ITC.
