Mcap of five of top-10 most valued firms erodes by ₹1 lakh cr; HDFC Bank biggest laggard | Stock Market News

The combined market valuation of five of the top-10 most-valued firms eroded by ₹1 lakh crore last week, with HDFC Bank taking the biggest hit.

Last week, the BSE benchmark Sensex dipped 30.96 points, or 0.04 per cent, and the NSE Nifty slipped 36.6 points, or 0.15 per cent.

“Markets ended the week on a largely flat note with a negative bias, reflecting underlying caution among participants. The tone remained positive during the first three sessions; however, a sharp decline on Thursday erased the gains, followed by a volatile final session,” Ajit Mishra, SVP, Research, Religare Broking Ltd, said.

While HDFC Bank, ICICI Bank, Tata Consultancy Services (TCS), Bajaj Finance and Hindustan Unilever were the laggards, Reliance Industries, Bharti Airtel, State Bank of India, Infosys, and Life Insurance Corporation of India (LIC) emerged as the winners.

The combined market valuation of the five firms eroded by ₹1,02,771.87 crore.

HDFC Bank’s valuation tumbled ₹56,124.48 crore to ₹12,01,267.28 crore.

The market valuation of Hindustan Unilever dropped ₹18,009.62 crore to ₹4,89,631.32 crore.

Bajaj Finance lost ₹15,338.42 crore to ₹5,16,715.12 crore.

The market capitalisation (mcap) of TCS declined ₹7,127.63 crore to ₹8,64,940 crore and that of ICICI Bank edged lower by ₹6,171.72 crore to ₹8,91,673.06 crore.

However, the valuation Reliance Industries jumped ₹45,942.75 crore to ₹19,14,235.92 crore.

The mcap of Bharti Airtel surged ₹24,462.03 crore to ₹10,52,893.75 crore and that of State Bank of India climbed ₹10,707.52 crore to ₹9,76,968.57 crore.

The market valuation of LIC edged higher by ₹2,624.88 crore to ₹4,91,610.45 crore and Infosys added ₹2,473.79 crore taking its mcap to ₹5,08,789.37 crore.

Reliance Industries remained the most-valued firm, followed by HDFC Bank, Bharti Airtel, State Bank of India, ICICI Bank, TCS, Bajaj Finance, Infosys, LIC and Hindustan Unilever Ltd.