The combined market valuation of seven of the top-10 most-valued firms eroded by Rs 2 lakh crore last week.
File Photo: IANS
The combined market valuation of seven of the top-10 most-valued firms eroded by Rs 2 lakh crore last week. Tata Consultancy Services (TCS) and Reliance Industries emerged as the biggest laggards. The combined market valuation of seven of the top-10 most valued firms dropped by Rs 2,05,343.06 crore.
The market valuation of Tata Consultancy Services (TCS) tumbled Rs 66,699.44 crore to Rs 8,67,364.12 crore while Reliance Industries lost Rs 50,670.34 crore from its valuation, which stood at Rs 17,96,647.50 crore.
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In a rank-wise analysis, 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.
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The valuation of HDFC Bank dived Rs 23,090.05 crore to Rs 12,08,225.48 crore and that of ICICI Bank’s mcap edged lower by Rs 14,663.27 crore to Rs 9,50,345.40 crore. Life Insurance Corporation of India (LIC) dropped by Rs 19,670.75 crore to Rs 5,13,020.56 crore.
The market capitalisation (mcap) of Bharti Airtel declined Rs 19,406.59 crore to Rs 11,05,718.62 crore while Larsen & Toubro diminished by Rs 11,142.62 crore to Rs 5,52,171.88 crore. However, the valuation of Hindustan Unilever jumped Rs 20,652.91 crore to Rs 5,47,219.80 crore.
The Indian stock market on Friday came under significant selling pressure, extending losses for a third consecutive session. Nifty slipped below the 23,900 mark amid weakness across sectors led by IT stocks.
At close, the Sensex was down 982.71 points or 1.27 percent at 76,681.29, and the Nifty was down 275.10 points or 1.14 percent at 23,897.95. For the week, Sensex and Nifty down 2 percent each, snapping a two-week gaining streak.
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