Indian equity benchmarks continued their losing streak for the sixth consecutive week with the BSE benchmark dropping 742.12 points or 0.92 per cent, and the NSE Nifty losing 202.05 points or 0.82 per cent.
The week ending August 8 saw a combined market valuation of six of the top 10 most-valued firms erode by ₹1,36,151.24 crore, led by Reliance Industries, following a bearish trend in equities.
From the top-10 pack, Reliance Industries, HDFC Bank, Bharti Airtel, ICICI Bank, Infosys and Hindustan Unilever faced erosion in their valuations, while Tata Consultancy Services (TCS), State Bank of India, Life Insurance Corporation of India (LIC) and Bajaj Finance were the gainers.
Also Read: Another week of mcap erosion led by TCS
The valuation of Reliance Industries tumbled ₹34,710.8 crore to ₹18,51,174.59 crore, while HDFC Bank's market capitalisation (mcap) tanked ₹29,722.04 crore to ₹15,14,303.58 crore.
The mcap of ICICI Bank fell by ₹24,719.45 crore to ₹10,25,495.69 crore, and that of Infosys dropped by ₹19,504.31 crore to ₹5,91,423.02 crore.
Bharti Airtel’s valuation, meanwhile, declined by ₹15,053.55 crore to ₹10,59,850.32 crore, and that of Hindustan Unilever by ₹12,441.09 crore to ₹5,87,021.88 crore.
However, LIC was a gainer this week too, with its market valuation jumping ₹17,678.37 crore to ₹5,77,187.67 crore. The valuation of TCS also climbed ₹11,360.8 crore to ₹10,97,908.66 crore.
The State Bank of India led PSUs in adding ₹9,784.46 crore, taking its valuation to ₹7,42,649.34 crore; while Bajaj Finance’s valuation went up by ₹186.43 crore to ₹5,45,148.52 crore.
However, Reliance Industries remained the most-valued firm, followed by HDFC Bank, TCS, Bharti Airtel, ICICI Bank, State Bank of India, Infosys, Hindustan Unilever, LIC and Bajaj Finance.
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