Reliance Industries and Life Insurance Corporation of India gas emerged as the biggest laggards in line with weak trend in equities.
Photo Representational (IANS)
The market valuation of eight of the top-10 most valued firms eroded by Rs 1,66,954.07 crore last week with Reliance Industries and Life Insurance Corporation of India emerging as the biggest laggards in line with weak trend in equities.
Rank-wise Reliance Industries retained the title of the most valued firm followed by TCS, HDFC Bank, Bharti Airtel, ICICI Bank, State Bank of India, Infosys, LIC, Hindustan Unilever and ITC
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The market capitalisation (mcap) of Reliance Industries tanked Rs 33,930.56 crore to Rs 19,94,765.01 crore, while Life Insurance Corporation of India (LIC) slumped Rs 30,676.24 crore to Rs 7,17,001.74 crore.
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Further, the State Bank of India lost Rs 21,151.33 crore from its valuation which stood at Rs 7,35,566.52 crore.
Tata Consultancy Services (TCS) tumbled Rs 19,157.77 crore to Rs 15,30,469.11 crore, and Infosys dived Rs 20,973.19 crore to Rs 7,35,277.28 crore.
ICICI Bank suffered an erosion of Rs 16,975.55 crore to Rs 8,25,201.23 crore, and HDFC Bank declined by Rs 7,095.87 crore to Rs 12,56,505.53 crore.
Bharti Airtel’s mcap got wiped out by Rs 16,993.56 crore to Rs 8,33,396.32 crore. However, the mcap of Hindustan Unilever jumped Rs 12,946.24 crore to reach Rs 6,45,808.65 crore.
The valuation of ITC climbed Rs 8,406.26 crore to Rs 6,19,829.37 crore.
Last week, the BSE benchmark slumped 1,276.04 points or 1.57%.
Benchmark indices bounced back on Friday and erased last session losses with a percent gain led by buying across the sectors.
The surge was on the back of positive global cues and extended the gains as the day progressed with Nifty crossing 24,400 and Sensex went closer to 80,000-mark.
Sensex closed 820 points, or 1.04%, higher at 79,705.91, while the Nifty 50 ended with a gain of 251 points, or 1.04%, at 24,367.50.
Notably, the Nifty 50 made a new all-time high by touching the 25,000 levels on August 1, but shortly after that, the market witnessed increased levels of volatility.
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