Last week, ending July 4, proved to be dismal for the Indian stock markets as well as the most-valued firms in the country, with the latter seeing major losses to the tune of ₹70,325.5 crore.
The worst-hit of the lot were HDFC Bank and ICICI Bank, which saw a drop in market capitalisation by ₹19,284.8 crore and ₹13,566.92 crore respectively.
The BSE benchmark Sensex had dropped 626.01 points or 0.74 per cent.
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The combined market valuation of six of the top-10 valued firms eroded by ₹70,325.5 crore last week, as HDFC Bank, Tata Consultancy Services (TCS), Bharti Airtel, ICICI Bank, Life Insurance Corporation of India (LIC) and Bajaj Finance faced erosion from their market valuation in line with a bearish trend in equities.
HDFC Bank’s valuation declined to ₹15,25,339.72 crore, and ICICI Bank stood at ₹10,29,470.57 crore.
In the top-10 pack, Reliance Industries, State Bank of India, Infosys and Hindustan Unilever Ltd were the gainers.
The valuation of Bajaj Finance dropped by ₹13,236.44 crore to ₹5,74,977.11 crore and that of LIC diminished by ₹10,246.49 crore to ₹5,95,277.16 crore.
TCS faced an erosion of ₹8,032.15 crore from its mcap, which stood at ₹12,37,729.65 crore.
The mcap of Bharti Airtel fell by ₹5,958.7 crore to ₹11,50,371.24 crore.
However, the market valuation of Reliance Industries jumped ₹15,359.36 crore to ₹20,66,949.87 crore.
Infosys added ₹13,127.51 crore in its valuation to ₹6,81,383.80 crore.
The mcap of Hindustan Unilever climbed ₹7,906.37 crore to ₹5,49,757.36 crore and that of State Bank of India went up by ₹5,756.38 crore to ₹7,24,545.28 crore.
In the ranking of top-10 firms, Reliance Industries retained the title of the most-valued firm, followed by HDFC Bank, TCS, Bharti Airtel, ICICI Bank, State Bank of India, Infosys, LIC, Bajaj Finance and Hindustan Unilever Ltd.
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