The combined market valuation of four of the top-10 most valued firms eroded by ₹1 lakh crore last week, with State Bank of India taking the biggest hit, amid a range-bound trend in equities.
Last week, the BSE benchmark Sensex climbed 414.69 points or 0.53 per cent, and the NSE Nifty went up by 178.6 points or 0.74 per cent.
“Indian equity markets witnessed a volatile and range-bound week, with sentiment remaining cautious despite intermittent recovery attempts. Early optimism driven by hopes of de-escalation in the Middle East and easing oil prices faded quickly as renewed tensions between the US and Iran resurfaced,” Ponmudi R, CEO – Enrich Money, an online trading and wealth tech firm, said.
While Bharti Airtel, State Bank of India, Tata Consultancy Services (TCS) and Larsen & Toubro faced erosion from their valuation, Reliance Industries, HDFC Bank, ICICI Bank, Bajaj Finance, Hindustan Unilever and Life Insurance Corporation of India (LIC) were the gainers from the pack. Together they added ₹46,685.21 crore in market valuation.
The valuation of SBI dropped by ₹44,722.34 crore to ₹9,41,107.62 crore.
Bharti Airtel’s valuation declined by ₹31,167.1 crore to ₹11,18,055.03 crore.
The market capitalisation (mcap) of TCS diminished by ₹28,456.26 crore to ₹8,66,477.69 crore and that of Larsen & Toubro edged lower by ₹5,371.84 crore to ₹5,46,621.21 crore.
However, the market valuation of HDFC Bank jumped ₹15,425.09 crore to ₹12,02,699.26 crore.
The mcap of Bajaj Finance surged by ₹11,486.89 crore to ₹5,94,610.02 crore.
Hindustan Unilever added ₹8,763.97 crore taking its valuation to ₹5,37,562.98 crore.
The mcap of Reliance Industries climbed ₹6,563.28 crore to ₹19,42,866.58 crore and that of LIC went up by ₹2,751.37 crore to ₹5,07,549.44 crore.
The market valuation of ICICI Bank edged higher by ₹1,694.61 crore to ₹9,06,675.39 crore.
Reliance Industries remained the most valued firm, followed by HDFC Bank, Bharti Airtel, State Bank of India, ICICI Bank, TCS, Bajaj Finance, Larsen & Toubro, Hindustan Unilever and LIC.
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