New Delhi: The combined market valuation of seven of the top-10 most valued firms eroded by Rs 3,63,412.18 crore last week, with Reliance Industries emerging as the biggest laggard, amid a bearish trend in equities.
Last week, the BSE benchmark declined by 2,185.77 points or 2.54 per cent.
“Indian equity markets ended last week on a negative note, reflecting heightened risk aversion triggered by renewed US tariff threats and rising geopolitical tensions,” Ponmudi R, CEO of Enrich Money, an online trading and wealth tech firm, said.
While Reliance Industries, HDFC Bank, Tata Consultancy Services (TCS), Bharti Airtel, Infosys, Bajaj Finance and Larsen & Toubro faced erosion from their valuation, ICICI Bank, State Bank of India, and Hindustan Unilever were the gainers.
The market valuation of Reliance Industries tumbled Rs 1,58,532.91 crore to Rs 19,96,445.69 crore.
HDFC Bank’s valuation eroded by Rs 96,153.61 crore to Rs 14,44,150.26 crore.
The market valuation of Bharti Airtel declined by Rs 45,274.72 crore to Rs 11,55,987.81 crore, and that of Bajaj Finance plunged Rs 18,729.68 crore to Rs 5,97,700.75 crore.
Larsen & Toubro’s market capitalisation (mcap) dropped by Rs 18,728.53 crore to Rs 5,53,912.03 crore, and that of TCS declined by Rs 15,232.14 crore to Rs 11,60,682.48 crore.
The mcap of Infosys edged lower by Rs 10,760.59 crore to Rs 6,70,875 crore.
However, the valuation of ICICI Bank jumped Rs 34,901.81 crore to Rs 10,03,674.95 crore.
The mcap of Hindustan Unilever climbed Rs 6,097.19 crore to Rs 5,57,734.23 crore, and that of State Bank of India edged higher by Rs 599.99 crore to Rs 9,23,061.76 crore.
Reliance Industries remained the most valued firm, followed by HDFC Bank, TCS, Bharti Airtel, ICICI Bank, State Bank of India, Infosys, Bajaj Finance, Hindustan Unilever and Larsen & Toubro.
PTI
