Market cap of 8 of the top 10 most valuable companies decreased by Rs 2 lakh crore
Delhi. The combined market valuation of eight of the 10 most valued domestic firms declined by Rs 2 lakh crore last week, with Reliance Industries taking the biggest hit, in line with a bearish trend in the broader stock market.Equity benchmark indices Sensex and Nifty continued their downtrend for the eighth consecutive day on Friday. In the past eight trading days, the BSE benchmark has tumbled 2,644.6 points or 3.36 per cent and the Nifty has slipped 810 points or 3.41 per cent.While the valuations of Reliance Industries, Tata Consultancy Services (TCS), HDFC Bank, Infosys, State Bank of India, Hindustan Unilever, Bajaj Finance and ITC declined a combined Rs 2,03,952.65 crore, Bharti Airtel and ICICI Bank were among the gainers.The market capitalisation (mcap) of Reliance Industries fell Rs 67,526.54 crore to Rs 16,46,822.12 crore. TCS’ valuation dropped by Rs 34,950.72 crore to Rs 14,22,903.37 crore. HDFC Bank’s market cap fell by Rs 28,382.23 crore to Rs 12,96,708.35 crore and ITC’s by Rs 25,429.75 crore to Rs 5,13,699.85 crore. Infosys’ market cap fell by Rs 19,287.32 crore to Rs 7,70,786.76 crore and State Bank of India’s market cap fell by Rs 13,431.55 crore to Rs 6,44,357.57 crore. Hindustan Unilever’s market valuation fell by Rs 10,714.14 crore to Rs 5,44,647 crore and Bajaj Finance’s market valuation fell by Rs 4,230.4 crore to Rs 5,20,082.42 crore. However, the market capitalisation of Bharti Airtel rose by Rs 22,426.2 crore to Rs 9,78,631.54 crore and that of ICICI Bank rose by Rs 1,182.57 crore to Rs 8,88,815.13 crore. In the top 10 chart, Reliance Industries retained the title of the most valuable company, followed by TCS, HDFC Bank, Bharti Airtel, ICICI Bank, Infosys, State Bank of India, Hindustan Unilever, Bajaj Finance and ITC.
