New Delhi: The combined market valuation of four of the top-10 most valued firms eroded by Rs 87,960.29 crore last week, with Bharti Airtel taking the biggest hit, in-tandem with a bearish trend in equities.
Last week, the BSE benchmark Sensex declined 468.42 points, or 0.60 per cent, and the NSE Nifty dipped 114 points, or 0.46 per cent.
“Indian equity markets ended the week on a cautious note, extending their recent corrective phase as elevated crude oil prices, rising global bond yields and persistent geopolitical uncertainty weighed on investor sentiment,” Ajit Mishra SVP, Research, Religare Broking Ltd, said.
The valuation of Bharti Airtel dropped Rs 28,052.96 crore to Rs 12,14,963.15 crore, the most among the top-10 firms.
Tata Consultancy Services (TCS) faced an erosion of Rs 22,070.34 crore from its valuation, which stood at Rs 8,31,436.51 crore.
The market capitalisation (mcap) of the State Bank of India declined Rs 20,861.2 crore to Rs 9,64,968.76 crore and that of Hindustan Unilever fell Rs 16,975.79 crore to Rs 4,73,912.56 crore.
However, the valuation of Life Insurance Corporation of India (LIC) jumped Rs 12,650 crore to Rs 5,35,980.31 crore.
The mcap of Reliance Industries surged Rs 8,119.53 crore to Rs 17,78,175.59 crore and that of Larsen & Toubro climbed Rs 3,487.83 crore to Rs 5,62,460.94 crore.
The market valuation of Bajaj Finance edged higher by Rs 3,424.28 crore to Rs 6,80,621.62 crore.
ICICI Bank added Rs 752.47 crore taking its mcap to Rs 10,18,330.45 crore.
The mcap of HDFC Bank went up Rs 356.95 crore to Rs 11,21,159.05 crore.
Reliance Industries remained the most valued firm, followed by Bharti Airtel, HDFC Bank, ICICI Bank, State Bank of India, TCS, Bajaj Finance, Larsen & Toubro, LIC and Hindustan Unilever.
PTI