New Delhi: The combined market valuation of six of the top-10 most valued firms eroded by Rs 71,414 crore last week, with state-owned company LIC emerged as the biggest laggard.
Of the top-10 most valued firms, Life Insurance Corporation of India (LIC), Tata Consultancy Services (TCS), ITC, Hindustan Unilever, Bharti Airtel and Reliance Industries faced a total erosion of Rs 71,414.03 crore.
On the other hand, State Bank of India, Infosys, HDFC Bank and ICICI Bank were emerged as the gainers. They collectively added Rs 62,038.86 crore.
However, in last week, the BSE benchmark climbed 831.15 points or 1.16 per cent.
The market valuation of state-owned insurer LIC fell by Rs26,217.12 crore to Rs6,57,420.26 crore.
TCS’s market valuation tumbled by Rs18,762.61 crore to Rs14,93,980.70 crore.
The market capitalisation of ITC eroded by Rs13,539.84 crore to Rs5,05,092.18 crore, while that of Hindustan Unilever dimnished Rs11,548.24 crore to Rs5,58,039.67 crore.
Market valuation of Bharti Airtel declined Rs703.60 crore to Rs6,30,340.9 crore and that of Reliance Industries dipped by Rs642.62 crore to Rs19,76,493.92 crore.
Billionaire Mukesh Ambani’s Reliance Industries Wednesday became the first Indian company to achieve a market capitalisation of Rs20 lakh crore. The company’s shares hit their 52-week high of Rs2,968.40 apiece.
Reliance stock had briefly touched Rs20 lakh crore market capitalisation (m-cap) Tuesday, but it ended the day at Rs19.93 lakh crore.
However, market capitalisation of SBI jumped Rs27,220.07 crore to Rs6,73,585.09 crore.
Infosys added Rs13,592.73 crore, taking its valuation to Rs7,06,573.08 crore.
Market valuation of HDFC Bank climbed by Rs12,684.58 crore to Rs10,78,493.29 crore and that of ICICI Bank went up by Rs8,541.48 crore to Rs7,17,796.25 crore.
In the ranking of top-10 most valued firms, Reliance Industries continued to dominate the chart followed by TCS, HDFC Bank, ICICI Bank, Infosys, State Bank of India, LIC, Bharti Airtel, Hindustan Unilever and ITC.
PTI
