New Delhi: The combined market valuation of five of the top-10 most valued firms eroded by Rs 1 lakh crore last week, with IT bellwether TCS taking the biggest hit, amid a bearish trend in domestic equities.
Last week, the BSE benchmark Sensex declined 489.92 points, or 0.62 per cent, and the NSE Nifty dipped 204.65 points, or 0.83 per cent.
“Markets ended the week lower as elevated crude oil prices, renewed geopolitical uncertainty and mixed global cues weighed on investor sentiment,” Ajit Mishra SVP, Research, Religare Broking Ltd, said.
While Reliance Industries, HDFC Bank, ICICI Bank, State Bank of India and Tata Consultancy Services (TCS) faced erosion from their valuation, Bharti Airtel, Bajaj Finance, Larsen & Toubro, Life Insurance Corporation of India (LIC) and Hindustan Unilever were the winners from the top-10 pack. These five firms together added Rs 55,149.45 crore in market valuation.
The market valuation of TCS eroded by Rs 34,263.28 crore to Rs 8,53,506.85 crore.
Reliance Industries’ valuation declined by Rs 31,869.13 crore to Rs 17,70,056.06 crore, and that of State Bank of India dropped by Rs 25,891.88 crore to Rs 9,85,829.96 crore.
The market capitalisation (mcap) of HDFC Bank edged lower by Rs 7,165.37 crore to Rs 11,20,802.10 crore, and that of ICICI Bank diminished by Rs 2,792.65 crore to Rs 10,17,577.98 crore.
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However, the valuation of LIC jumped Rs 26,438.49 crore to Rs 5,23,330.31 crore.
The mcap of Bharti Airtel surged Rs 20,592.13 crore to Rs 12,43,016.11 crore, and that of Bajaj Finance climbed Rs 3,548.79 crore to Rs 6,77,197.34 crore.
Larsen & Toubro added Rs 2,490.66 crore, taking its valuation to Rs 5,58,973.11 crore.
The mcap of Hindustan Unilever went up by Rs 2,079.38 crore to Rs 4,90,888.35 crore.
Reliance Industries remained the most valued domestic firm, followed by Bharti Airtel, HDFC Bank, ICICI Bank, State Bank of India, TCS, Bajaj Finance, Larsen & Toubro, LIC and Hindustan Unilever.
