The combined market capitalisation of eight out of the top 10 most valued companies declined by ₹2,24,630.45 crore last week, with Reliance Industries and HDFC Bank witnessing the steepest losses, reflecting a bearish sentiment in the equity market.
The BSE benchmark slipped 1,497.2 points, or 1.84 per cent, during the same period.
Top laggards and gainers
Among the top-10 firms, Reliance Industries, HDFC Bank, Bharti Airtel, ICICI Bank, State Bank of India, Infosys, Bajaj Finance, and Life Insurance Corporation of India (LIC) suffered declines in their market valuation, while Tata Consultancy Services (TCS) and Hindustan Unilever posted gains.
Reliance Industries’ market capitalisation dropped ₹70,707.17 crore to ₹18,36,424.20 crore, and HDFC Bank’s fell by ₹47,482.49 crore to ₹14,60,863.90 crore. ICICI Bank’s valuation slipped ₹27,135.23 crore to ₹9,98,290.96 crore, while Bharti Airtel shed ₹24,946.71 crore to ₹10,77,213.23 crore.
LIC’s market cap fell by ₹23,655.49 crore to ₹5,39,047.93 crore, and State Bank of India’s decreased by ₹12,692.1 crore to ₹7,40,618.60 crore. Bajaj Finance lost ₹10,471.08 crore to ₹5,45,490.31 crore, and Infosys edged down by ₹7,540.18 crore to ₹6,10,463.94 crore.
Meanwhile, TCS saw its market valuation rise by ₹11,125.62 crore to ₹11,15,962.91 crore, and Hindustan Unilever added ₹7,318.98 crore to ₹6,24,991.28 crore.
Reliance Industries remained the most valued firm, followed by HDFC Bank, TCS, Bharti Airtel, ICICI Bank, State Bank of India, Hindustan Unilever, Infosys, Bajaj Finance, and LIC.
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