New Delhi: Equity market capitalisation dropped to a seven-month low in February, with the top 10 companies losing a whopping Rs 3,33,307.62 crore in market valuation last week.
The total equity market capitalisation (m-cap) in February 2022 stood at Rs 2,49,97,053.39 crore. The previous low was in July 2021, when the m-cap of BSE-listed companies was at Rs 2,35,49,748.9 crore.
In January, the m-cap stood at Rs 2,64,41,207.18 crore.
During the week, equity m-cap was Rs 2,57,39,712.95 crore on Monday and was at its lowest on Thursday, at Rs 2,42,24,179.79 crore, the day Russian President Vladimir Putin announced a military operation in Ukraine.
On a weekly basis, Reliance Industries Ltd’s market valuation dropped Rs 94,828.02 crore to reach Rs 15,45,044.14 crore.
The market valuation of Tata Consultancy Services (TCS) tumbled Rs 1,01,760.91 crore to stand at Rs 13,01,955.11 crore.
HDFC Bank’s market capitalisation tanked Rs 31,597.65 crore to Rs 8,06,931.95 crore.
The valuation of Infosys eroded by Rs 5,501.34 crore to Rs 7,12,443.09 crore and that of ICICI Bank declined by Rs 13,240.66 crore to Rs 5,07,414.1 crore.
The market capitalisation of HDFC plunged Rs 6,929.03 crore to reach Rs 4,35,233.9 crore and that of Hindustan Unilever Ltd (HUL) fell by Rs 33,234.97 crore to Rs 5,09,990.53 crore.
State Bank of India’s market capitalisation declined by Rs 29,094.23 crore to Rs 4,30,924.87 crore and that of Bajaj Finance dipped Rs 3,802.65 crore to Rs 4,20,653.95 crore.
The valuation of Bharti Airtel diminished by Rs 13,318.16 crore to Rs 3,78,098.62 crore.
In the ranking of the top 10 firms, Reliance Industries Ltd continued to maintain its numero uno position, followed by TCS, HDFC Bank, Infosys, HUL, ICICI Bank, HDFC, SBI, Bajaj Finance and Bharti Airtel.