Eight Of Top-10 Firms Lost Rs 89,535 Crore Market Cap Last Week
Eight of the 10 most valued Indian listed firms saw a combined erosion of Rs 89,535 crore in market valuation last week with State Bank of India emerging as the biggest drag.
In the top ten list, only Tata Consultancy Services and Hindustan Unilever saw gains in for the week ended Friday. Reliance Industries, HDFC Bank, HDFC, Infosys, ITC, Kotak Mahindra Bank, SBI and ICICI Bank closed the week with losses.
The valuation of SBI tumbled Rs 30,388.3 crore to Rs 2.75 lakh crore.
RIL’s market capitalisation plummeted Rs 18,952.5 crore to Rs 7.5 lakh crore and that of HDFC Bank plunged Rs 16,774.8 crore to Rs 6.05 lakh crore.
The market valuation of HDFC tanked Rs 7,660.34 crore to Rs 3.66 lakh crore and that of ITC declined Rs 6,995.81 crore to Rs 3.24 lakh crore.
Infosys’ market cap eroded by Rs 5,111.1 crore to reach Rs 3.3 lakh crore and that of ICICI Bank went lower by Rs 3,003.03 crore to Rs 2.65 lakh crore.
The valuation of Kotak Mahindra Bank fell by Rs 649.22 crore to Rs 2.87 lakh crore.
In contrast, the market cap of TCS rose Rs 36,491.94 crore to Rs 8.27 lakh crore and that of HUL jumped by Rs 1,493.71 crore to Rs 3.76 lakh crore.
In the ranking of top ten firms, TCS was at the number one ranking, followed by RIL, HDFC Bank, HUL, HDFC, Infosys, ITC, Kotak Mahindra Bank, SBI and ICICI Bank.
Last week, the Sensex lost 764.57 points or 2.01 percent.