Six of the top-10 most valued domestic firms suffered a combined erosion of ₹1,02,280.51 crore in market valuation last week, amid a weak trend in equities, with Reliance Industries taking the biggest hit.
Last week, the BSE benchmark fell 405.21 points or 0.63 per cent amid a bearish trend in global equities and concerns over rate hikes by central banks of various countries.
From the top-10 pack, Reliance Industries, ICICI Bank, Hindustan Unilever, ITC, Infosys and State Bank of India faced erosion from their market capitalisation (Mcap). However, Tata Consultancy Services (TCS), HDFC Bank, HDFC and Bharti Airtel emerged as the gainers.
The market valuation of Reliance Industries tumbled ₹40,695.15 crore to ₹17,01,720.32 crore.
Hindustan Unilever's Mcap diminished by ₹17,222.5 crore to ₹6,20,797.26 crore.
State Bank's valuation fell by ₹14,814.86 crore to ₹4,95,048.22 crore and that of Infosys declined by ₹11,204.66 crore to ₹5,25,228.89 crore.
The Mcap of ITC went lower by ₹10,625.95 crore to ₹5,52,611.81 crore and that of ICICI Bank dipped ₹7,717.39 crore to ₹6,46,262.77 crore.
However, HDFC Bank added ₹23,525.6 crore taking its market valuation to ₹9,18,984.17 crore.
The Mcap of TCS jumped ₹15,441.19 crore to ₹11,77,281.48 crore.
HDFC's valuation climbed ₹13,821.74 crore to ₹5,03,318.08 crore and that of Bharti Airtel advanced ₹11,297.68 crore to ₹4,77,710.47 crore.
In the ranking of top-10 most valued firms, Reliance Industries continued to rule the chart, followed by TCS, HDFC Bank, ICICI Bank, Hindustan Unilever, ITC, Infosys, HDFC, State Bank of India and Bharti Airtel.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.