Mcap of 7 of top-10 most-valued firms erode by ₹1.16 lakh cr; HDFC Bank biggest laggard

The combined market valuation of seven of the top-10 most-valued firms eroded by ₹1.16 lakh crore last week, with HDFC Bank emerging as the biggest laggard.

• Also read: FPIs dump $1.5 billion in 3 sessions after rise in US bond yields, weak Q3 earnings

In the holiday-shortened week, the BSE benchmark fell by 982.56 points or 1.37 per cent.

Of the top-10 most-valued firms, Reliance Industries, Tata Consultancy Services (TCS), HDFC Bank, Life Insurance Corporation of India (LIC), Hindustan Unilever, ITC, and State Bank of India were the laggards, ICICI Bank, Infosys and Bharti Airtel emerged as the gainers.

The market valuation of HDFC Bank fell by ₹32,661.45 crore to ₹10,90,001.31 crore.

LIC's valuation tumbled by ₹20,682.74 crore to ₹5,71,337.04 crore.

The market valuation of TCS eroded by ₹19,173.43 crore to Rs 13,93,439.94 crore and that of State Bank of India plunged by ₹16,599.77 crore to ₹5,46,989.47 crore.

ITC's valuation diminished by ₹15,908.1 crore to ₹5,68,262.28 crore and that of Hindustan Unilever declined by ₹9,210.4 crore to ₹5,70,974.17 crore.

• Also read: Yes Bank Q3 profit surges but falls short of estimates

The market capitalisation (mcap) of Reliance Industries dipped by ₹1,928.22 crore to ₹18,33,737.60 crore.

However, the mcap of Bharti Airtel jumped ₹20,727.87 crore to ₹6,52,407.83 crore.

Infosys added Rs 9,151.75 crore taking its valuation to ₹6,93,457.65 crore, and the mcap of ICICI Bank climbed ₹1,137.37 crore to ₹7,08,511.16 crore.

In the ranking of the most-valued firms, Reliance Industries retained the number one position followed by TCS, HDFC Bank, ICICI Bank, Infosys, Bharti Airtel, LIC, Hindustan Unilever, ITC and State Bank of India.