Market valuation of 8 of top 10 most valued firms erode by over Rs 3 trillion
The combined market valuation of eight of the top 10 most valued firms eroded by Rs 3,09,244.57 crore last week.
Last week, four of the top 10 most-valued firms together added Rs 81,151.31 crore in market valuation. ICICI Bank and HDFC Bank emerged as the biggest gainers.
Reliance Industries continued to remain the most-valued domestic firm, followed by TCS, HDFC Bank, Bharti Airtel, ICICI Bank, Infosys, State Bank of India, Hindustan Unilever, ITC, and LIC.
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ICICI Bank added Rs 28,495.14 crore, taking its market valuation to Rs 8,90,191.38 crore while the valuation of HDFC Bank jumped Rs 23,579.11 crore to Rs 12,82,848.30 crore.
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State Bank of India’s market valuation climbed Rs 17,804.61 crore to Rs 7,31,773.56 crore. LIC’s valuation went lower by Rs 8,760.12 crore to Rs 5,91,418.91 crore.
Bharti Airtel went up by Rs 11,272.45 crore to Rs 9,71,707.61 crore. The valuation of Reliance Industries declined Rs 16,645.39 crore to Rs 18,38,721.14 crore.
The market capitalisation (mcap) of Infosys slumped Rs 23,314.31 crore to Rs 7,80,126.10 crore while TCS diminished by Rs 10,402.01 crore to Rs 14,91,321.40 crore.
The mcap of ITC dipped Rs 2,251.37 crore to Rs 6,08,682.29 crore and that of Hindustan Unilever tumbled Rs 15,248.85 crore to Rs 6,38,066.75 crore.
On Friday, benchmark indices rebounded after three days of decline after buying in banks, financial services and metal stocks.
The BSE Sensex closed 218.14 points higher to 81,224.75 on October 18 while NSE Nifty rose 104.20 points to 24,854.05.
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