The combined market valuation of six of the top 10 valued firms fell by over Rs 3 lakh crore last week, with IT majors Tata Consultancy Services (TCS) and Infosys emerging as the biggest laggards amid a bearish trend in equities.
The BSE benchmark declined by 953.64 points, or 1.14 per cent, over the past week.
TCS, Infosys, HDFC Bank, Reliance Industries, Life Insurance Corporation of India (LIC), and Bharti Airtel saw erosion in their valuation, while State Bank of India, Bajaj Finance, Larsen & Toubro, and ICICI Bank were among the gainers.
TCS’s market valuation tumbled Rs 90,198.92 crore to Rs 9,74,043.43 crore, while Infosys’ valuation fell by Rs 70,780.23 crore to Rs 5,55,287.72 crore. HDFC Bank’s valuation declined by Rs 54,627.71 crore to Rs 13,93,621.92 crore, and Reliance Industries dropped Rs 41,883 crore to Rs 19,21,475.79 crore.
Life Insurance Corporation of India’s market capitalisation decreased by Rs 23,971.74 crore to Rs 5,46,226.80 crore, and Bharti Airtel’s valuation fell by Rs 19,244.61 crore to Rs 11,43,044.03 crore.
On the upside, the market valuation of State Bank of India (SBI) rose Rs 1,22,213.38 crore to Rs 11,06,566.44 crore. Bajaj Finance’s mcap climbed Rs 26,414.44 crore to Rs 6,37,244.64 crore, Larsen & Toubro increased by Rs 14,483.9 crore to Rs 5,74,028.93 crore, and ICICI Bank’s valuation rose Rs 5,719.95 crore to Rs 10,11,978.77 crore.
Reliance Industries remained the most valued firm, followed by HDFC Bank, Bharti Airtel, State Bank of India, ICICI Bank, Tata Consultancy Services, Bajaj Finance, Larsen & Toubro, Infosys, and Life Insurance Corporation of India.
