ICICI Bank becomes 5th firm to cross Rs 9 trillion m-cap
The stock hit a record high of Rs 1,295 on BSE today, up 2% from the previous close, with mcap at Rs 9.1 lakh crore.
Last week, 9 of the top 10 most valued firms together lost a whopping Rs 4,74,906.18 crore in market valuation. Reliance Industries and HDFC Bank took the steepest hit, in line with weak trends in equities.
Reliance Industries retained the title of the most–valued firm, followed by TCS, HDFC Bank, Bharti Airtel, ICICI Bank, Infosys, State Bank of India, Hindustan Unilever, ITC, and LIC.
The valuation of Reliance Industries declined Rs 1,88,479.36 crore to Rs 18,76,718.24 crore while the HDFC Bank’s market valuation slumped by Rs 72,919.58 crore to Rs 12,64,267.35 crore.
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ICICI Bank tumbled Rs 47,461.13 crore to Rs 8,73,059.59 crore and the valuation of Life Insurance Corporation of India (LIC) plummeted Rs 33,490.86 crore to Rs 6,14,125.65 crore.
Bharti Airtel’s valuation plunged Rs 53,800.31 crore to Rs 9,34,104.32 crore last week.
Hindustan Unilever tanked Rs 27,525.46 crore to Rs 6,69,363.31 crore, and ITC dropped Rs 24,139.66 crore to Rs 6,29,695.06 crore.
Tata Consultancy Services (TCS) eroded by Rs 21,690.43 crore to Rs 15,37,361.57 crore while the mcap of Infosys climbed Rs 4,629.64 crore to Rs 7,96,527.08 crore.
Largest public sector lender State Bank of India’s valuation went lower by Rs 5,399.39 crore to Rs 7,10,934.59 crore.
On Friday, Sensex ended 808.65 points or 0.98 per cent lower at 81,688.45 while the broader Nifty fell 200.25 points or 0.8 per cent to 25,049.85.
Sensex then surged 1,295 points from the intra-day low to reach a high of 83,347 while the broader Nifty rallied 378 points from its low to hit the day’s high of 25,472.65.
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