Seven of the 10 most valued firms witnessed a combined erosion of Rs 1,41,628.37 crore in market valuation last week, with IT companies taking the biggest hit. The market valuation of Tata Consultancy Services tumbled Rs 47,680.78 crore to reach Rs 11,81,218.07 crore.
The market capitalisation of Infosys declined Rs 37,579.03 crore to Rs 5,76,275.68 crore. The valuation of Reliance Industries eroded by Rs 30,841.38 crore to Rs 12,26,048.07 crore and that of State Bank of India diminished by Rs 11,735.86 crore to Rs 3,03,347.55 crore.
Kotak Mahindra Bank’s valuation tumbled Rs 6,620.48 crore to Rs 3,49,903 crore and that of Hindustan Unilever Limited dipped by Rs 4,534.66 crore to Rs 5,77,206.58 crore. Bharti Airtel witnessed a decline of Rs 2,636.18 crore taking its valuation to Rs 2,96,871.53 crore.
In contrast, HDFC’s valuation jumped Rs 10,697.4 crore to reach Rs 4,64,254.63 crore. HDFC Bank added Rs 3,748.69 crore to its valuation at Rs 7,87,472.56 crore and that of ICICI Bank rose by Rs 123.98 crore to Rs 3,91,902.83 crore.
In the ranking of top-10 companies, Reliance Industries Limited was leading the chart, followed by TCS, HDFC Bank, Hindustan Unilever Limited, Infosys, HDFC, ICICI Bank, Kotak Mahindra Bank, State Bank of India and Bharti Airtel. During the holiday-truncated last week, the 30-share BSE benchmark dipped 759.29 points or 1.53 per cent.