The combined market valuation of four of the top-10 most valued firms eroded by Rs 1 lakh crore last week. The State Bank of India (SBI) took the biggest hit, amid a range-bound trend in equities. The valuation of SBI dropped by Rs 44,722.34 crore to Rs 9,41,107.62 crore.
The gainers from the pack were Reliance Industries, HDFC Bank, ICICI Bank, Bajaj Finance, Hindustan Unilever and Life Insurance Corporation of India (LIC) together adding Rs 46,685.21 crore in market valuation.
While on the losing end were Bharti Airtel, State Bank of India, Tata Consultancy Services (TCS) and Larsen & Toubro.
In a rank-wise analysis, Reliance Industries remained the most valued firm. It was followed by HDFC Bank, Bharti Airtel, State Bank of India, ICICI Bank, TCS, Bajaj Finance, Larsen & Toubro, Hindustan Unilever and LIC.
Bharti Airtel’s valuation declined by Rs 31,167.1 crore to Rs 11,18,055.03 crore while Larsen & Toubro edged lower by Rs 5,371.84 crore to Rs 5,46,621.21 crore.
The market capitalisation of TCS diminished by Rs 28,456.26 crore to Rs 8,66,477.69 crore.
The market valuation of HDFC Bank jumped Rs 15,425.09 crore to Rs 12,02,699.26 crore while the market valuation of ICICI Bank edged higher by Rs 1,694.61 crore to Rs 9,06,675.39 crore.
Further, Bajaj Finance surged by Rs 11,486.89 crore to Rs 5,94,610.02 crore. LIC went up by Rs 2,751.37 crore to Rs 5,07,549.44 crore.
Hindustan Unilever added Rs 8,763.97 crore taking its valuation to Rs 5,37,562.98 crore, and Reliance Industries climbed Rs 6,563.28 crore to Rs 19,42,866.58 crore.
In a week, the Sensex climbed 414.69 points or 0.53 per cent, and Nifty went up by 178.6 points or 0.74 per cent.