New Delhi: The combined market valuation of eight of the top 10 most valuable firms fell by Rs 1.55 lakh crore last week, with HDFC Bank and Bajaj Finance accounting for most of the losses.
In a holiday-truncated week, the 30-share BSE Sensex tumbled 1,605.44 points, or 2.15 per cent, while the 50-share NSE Nifty slumped 546.15 points, or 2.36 per cent.
Tracking the weak trend in equities, the total market capitalisation of BSE-listed firms fell by Rs 20,78,774.28 crore over four sessions to Rs 4,51,83,393.14 crore from Rs 4,72,62,167.42 crore recorded October 16.
Among the top 10 listed companies, eight lost Rs 1,55,671.9 crore, while two, Tata Consultancy Services and Larsen & Toubro, closed the week with valuation gains.
Among major losers, the market valuation of HDFC Bank tumbled Rs 55,506.95 crore to Rs 10,67,121.12 crore. The company’s stock fell 5 per cent during the last week.
Bajaj Finance’s valuation eroded by Rs 34,180.51 crore to Rs 5,77,146.21 crore.
The market valuation of Reliance Industries dropped by Rs 27,065.08 crore to Rs 16,10,372.11 crore and that of Life Insurance Corporation of India (LIC) by Rs 21,062.24 crore to Rs 4,81,142.58 crore.
The market capitalisation (mcap) of Bharti Airtel tanked Rs 9,360.75 crore to Rs 11,79,454.70 crore. The valuation of State Bank of India diminished by Rs 4,338.46 crore to Rs 8,83,384.38 crore.
The mcap of Infosys declined by Rs 2,881.38 crore to Rs 4,68,528.03 crore, and that of ICICI Bank declined by Rs 1,276.53 crore to Rs 10,01,594.91 crore.
Meanwhile, the valuation of Tata Consultancy Services (TCS) jumped Rs 23,517.56 crore to Rs 9,14,652.52 crore. The mcap of Larsen & Toubro (L&T) climbed Rs 1,788.66 crore to Rs 5,01,513.72 crore.
Reliance Industries was the most valued firm, followed by Bharti Airtel, HDFC Bank, ICICI Bank, TCS, State Bank of India, Bajaj Finance, L&T, Life Insurance Corporation of India and Infosys.
