The combined market valuation of seven of the top-10 most-valued firms fell by Rs 2 lakh crore last week, with Tata Consultancy Services and Reliance Industries among the biggest losers, along with weakness in equities.
Last week, the BSE Sensex fell 1,829.33 points, or 2.33 per cent, while the NSE Nifty declined 455.6 points, or 1.87 per cent.
"Markets ended lower after two consecutive weeks of gains, weighed down by heightened geopolitical tensions and weak earnings commentary from IT majors," Ajit Mishra -- SVP, Research, Religare Broking Ltd, said.
Global developments continued to dominate market direction, with ongoing uncertainty around the West Asia crisis and concerns over supply disruptions keeping crude oil prices elevated, he added.
The combined market valuation of seven of the top-10 most valued firms declined by Rs 2,05,343.06 crore. Tata Consultancy Services (TCS) saw its market capitalisation fall by Rs 66,699.44 crore to Rs 8,67,364.12 crore.
Reliance Industries lost Rs 50,670.34 crore in market value, taking its mcap to Rs 17,96,647.50 crore.
HDFC Bank’s valuation went down by Rs 23,090.05 crore to Rs 12,08,225.48 crore. Life Insurance Corporation of India (LIC) lost Rs 19,670.75 crore to stand at Rs 5,13,020.56 crore.
Bharti Airtel’s mcap slipped Rs 19,406.59 crore to Rs 11,05,718.62 crore. ICICI Bank declined Rs 14,663.27 crore to Rs 9,50,345.40 crore, while Larsen & Toubro fell Rs 11,142.62 crore to Rs 5,52,171.88 crore.
Hindustan Unilever added Rs 20,652.91 crore, taking its valuation to Rs 5,47,219.80 crore. State Bank of India gained Rs 19,522.76 crore to Rs 10,16,752.53 crore, and Bajaj Finance rose Rs 8,253.64 crore to Rs 5,73,690.81 crore.
Reliance Industries remained the most-valued domestic firm, followed by HDFC Bank, Bharti Airtel, State Bank of India, ICICI Bank, TCS, Bajaj Finance, Larsen & Toubro, Hindustan Unilever and LIC.
