The combined market valuation of six of the top-10 most valued firms in the country declined by ₹94,433.12 crore last week, with Tata Consultancy Services and Reliance Industries taking the biggest hit, in line with a bearish trend in equities.
Last week, the BSE benchmark tumbled 742.74 points or 0.90 per cent, affected by the uncertainty surrounding the ongoing India-US trade talks and less-than-expected Q1 earnings of some firms.
While Reliance Industries, HDFC Bank, Tata Consultancy Services (TCS), Bharti Airtel, Infosys and Hindustan Unilever suffered erosion from their market valuation last week, ICICI Bank, State Bank of India, Bajaj Finance and Life Insurance Corporation of India (LIC) emerged as gainers.
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The valuation of TCS tumbled ₹27,334.65 crore to ₹11,54,115.65 crore, the most among the top-10 firms.
Reliance Industries was next, having suffered an erosion of ₹24,358.45 crore to ₹19,98,543.22 crore from its valuation.
The market capitalisation (mcap) of HDFC Bank tanked ₹20,051.59 crore to ₹15,00,917.42 crore; and that of Bharti Airtel dropped by ₹11,888.89 crore to ₹10,83,998.73 crore. The mcap of Hindustan Unilever declined by ₹7,330.72 crore to ₹5,84,789.77 crore.
The mcap of Infosys dived ₹3,468.82 crore to ₹6,59,096.12 crore.
However, the valuation of the State Bank of India jumped ₹13,208.44 crore to ₹7,34,763.97 crore.
The mcap of Bajaj Finance, meanwhile, surged ₹5,282.15 crore to ₹5,85,292.83 crore, while ICICI Bank added ₹3,095 crore, taking its valuation to ₹10,18,008.73 crore.
The market capitalisation of LIC also climbed ₹506 crore to ₹5,83,828.91 crore.
Reliance Industries was leading the pack of the top-10 firms, followed by HDFC Bank, TCS, Bharti Airtel, ICICI Bank, State Bank of India, Infosys, Bajaj Finance, Hindustan Unilever and LIC.
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