The combined market valuation of 6 of the top 10 most valued firms diminished by Rs 2.22 lakh crore last week. Markets ended lower for the fourth straight week as caution prevailed amid mixed cues.
Reliance Industries took the biggest hit, in-line with a bearish trend in equities. The valuation of Reliance Industries tumbled Rs 1,14,687.7 crore to Rs 18,83,855.52 crore.
Reliance Industries, Tata Consultancy Services (TCS), Infosys, Bajaj Finance, Hindustan Unilever, and Life Insurance Corporation of India (LIC) suffered a combined erosion of Rs 2,22,193.17 crore from their market valuation.
Infosys faced an erosion of Rs 29,474.56 crore to Rs 6,29,621.56 crore while TCS dropped by Rs 20,080.39 crore to Rs 11,34,035.26 crore.
The market valuation of HDFC Bank jumped Rs 37,161.53 crore to Rs 15,38,078.95 crore, and ICICI Bank added Rs 35,814.41 crore, taking its valuation to Rs 10,53,823.14 crore.
State Bank of India went up by Rs 9,685.34 crore to Rs 7,44,449.31 crore, and the valuation of LIC tanked Rs 23,086.24 crore to Rs 5,60,742.67 crore.
The mcap of Bajaj Finance declined by Rs 17,524.3 crore to Rs 5,67,768.53 crore.
The mcap of Bharti Airtel climbed Rs 20,841.2 crore to Rs 11,04,839.93 crore, and that of Hindustan Unilever fell by Rs 17,339.98 crore to Rs 5,67,449.79 crore.
For the last week, the BSE benchmark gauge declined by 294.64 points or 0.36 per cent.
In terms of ranking, Reliance Industries remained the most valued domestic firm followed by HDFC Bank, TCS, Bharti Airtel, ICICI Bank, State Bank of India, Infosys, Bajaj Finance, Hindustan Unilever and LIC.
On Friday, markets extended their decline with both indices losing nearly a percent amid weak global cues. At close, Sensex was down 721 points, or 0.88 per cent down at 81,463.09, while the Nifty 50 settled 225 points, or 0.90 per cent, lower at 24,837.