Valuation of top-10 firms plunges Rs 4,95,061 crore
This was in line with a bearish trend in equities, where Tata Consultancy Services (TCS) and Reliance Industries faced the sharpest erosion.
The combined market valuation of eight of the top-10 most valued firms jumped Rs 2,10,330.26 crore last week (July 15 to 19).
Tata Consultancy Services (TCS) and Life Insurance Corporation of India emerged as the biggest gainers.
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Valuation of TCS zoomed Rs 42,639.16 crore to Rs 15,56,772.61 crore while the market capitalisation (mcap) of LIC surged Rs 36,748.23 crore to Rs 7,01,695.24 crore.
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In the top-10 table, Reliance Industries retained the title of the most valued firm, followed by TCS, HDFC Bank, ICICI Bank, Bharti Airtel, State Bank of India, Infosys, LIC, Hindustan Unilever and ITC.
Last week, the BSE benchmark climbed 85.31 points or 0.10%, and the 30-share BSE Sensex hit its new all-time high of 81,587.76 on Friday.
State Bank of India’s mcap climbed Rs 26,372.23 crore to Rs 7,93,576.49 crore while the ICICI Bank climbed Rs 10,863.44 crore to Rs 8,78,531.60 crore.
The mcap of HDFC Bank declined by Rs 13,124.01 crore to Rs 12,22,701.34 crore.
Infosys added Rs 33,569.16 crore, taking its valuation to Rs 7,44,396.43 crore.
Hindustan Unilever’s mcap soared Rs 24,494.49 crore to Rs 6,40,651.30 crore, and that of ITC jumped Rs 19,420.52 crore to Rs 5,92,679.30 crore.
The market valuation of Bharti Airtel went up by Rs 16,223.03 crore to Rs 8,31,928.39 crore.
On Friday, Nifty 50 closed the day with a loss of 270 points, or 1.09%, at 24,530.90, while the Sensex ended at 80,604.65, down 739 points, or 0.91%.
Profit booking was seen across the market ahead of the Union Budget 2024.
The midcap and smallcap segments experienced even steeper declines as investors booked profits.
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