Valuation of 6 top firms falls Rs 94K Cr, TCS, Reliance Industries took biggest hit

Last week, the combined market valuation of 6 of the top 10 most valued firms declined by Rs 94,433.12 crore. BSE benchmark tumbled 742.74 points or 0.90 per cent.

Tata Consultancy Services and Reliance Industries took the biggest hit, in line with a bearish trend in equities.

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Reliance Industries, HDFC Bank, Tata Consultancy Services (TCS), Bharti Airtel, Infosys, and Hindustan Unilever suffered erosion from their market valuation.

However, ICICI Bank, State Bank of India, Bajaj Finance, and Life Insurance Corporation of India (LIC) emerged as gainers.

In a rank-wise analysis, Reliance Industries was leading the pack of the top 10 firms, followed by HDFC Bank, TCS, Bharti Airtel, ICICI Bank, State Bank of India, Infosys, Bajaj Finance, Hindustan Unilever, and LIC.

The valuation of TCS tumbled Rs 27,334.65 crore to Rs 11,54,115.65 crore, the most among the top 10 firms. The mcap of Infosys dived Rs 3,468.82 crore to Rs 6,59,096.12 crore.

State Bank of India jumped Rs 13,208.44 crore to Rs 7,34,763.97 crore.

The market capitalisation (mcap) of HDFC Bank tanked Rs 20,051.59 crore to Rs 15,00,917.42 crore while ICICI Bank added Rs 3,095 crore, taking its valuation to Rs 10,18,008.73 crore.

The mcap of Bajaj Finance surged Rs 5,282.15 crore to Rs 5,85,292.83 crore. The market capitalisation of LIC climbed Rs 506 crore to Rs 5,83,828.91 crore.

Bharti Airtel’s mcap dropped by Rs 11,888.89 crore to Rs 10,83,998.73 crore, and that of Hindustan Unilever declined by Rs 7,330.72 crore to Rs 5,84,789.77 crore.

On Friday, the market extended the losing streak on the second consecutive session with the Nifty falling below 25,000. The index hit a one-month low amid selling across the sectors, barring metal and media.

At close, the Sensex was down 501.51 points or 0.61per cent at 81,757.73, and the Nifty was down 143.05 points or 0.57per cent at 24,968.40.