The combined market valuation of seven of the 10 most valued firms eroded by Rs 1,16,053.13 crore last week amid an overall bearish trend in equities, with Reliance Industries taking the biggest hit. Last week, the Sensex shed 672 points or 1.15 per cent.
The valuation of Reliance Industries fell by Rs 41,706.05 crore to reach Rs 16,08,601.05 crore. State Bank of India’s valuation diminished by Rs 17,313.74 crore to Rs 4,73,941.51 crore.
The market capitalisation (mcap) of ICICI Bank tanked Rs 13,806.39 crore to Rs 6,01,156.60 crore and that of HDFC Bank eroded by Rs 13,423.6 crore to Rs 7,92,270.97 crore. The mcap of HDFC went lower by Rs 10,830.97 crore to Rs 4,16,077.03 crore and that of Bajaj Finance declined by Rs 10,240.83 crore to Rs 4,44,236.73 crore.
Bharti Airtel’s valuation dipped Rs 8,731.55 crore to Rs 4,44,919.45 crore. However, the market valuation of Infosys jumped Rs 20,144.57 crore to Rs 5,94,608.11 crore. Tata Consultancy Services (TCS) added Rs 7,976.74 crore, taking its valuation to Rs 10,99,398.58 crore.
The mcap of Hindustan Unilever climbed Rs 4,123.53 crore to Rs 6,33,649.52 crore. Reliance Industries remained the most valued Indian firm by market valuation, followed by TCS, HDFC Bank, Hindustan Unilever, ICICI Bank, Infosys, State Bank of India (SBI), Bharti Airtel, Bajaj Finance and HDFC.