Mcap at top-4 companies fell by Rs 1.25 lakh cr
The combined market valuation (mcap) of four of the top-10 valued firms declined by Rs1,25,397.45 crore last week, with Reliance Industries taking the biggest hit, in line with weak investors’ sentiment at Dalal Street
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New Delhi: The combined market valuation (mcap) of four of the top-10 valued firms declined by Rs1,25,397.45 crore last week, with Reliance Industries taking the biggest hit, in line with weak investors’ sentiment at Dalal Street. Last week, the BSE benchmark index declined by 428.87 points or 0.55 per cent, and the Nifty dipped 111 points or 0.47 per cent.
“It was another tough week for the Bulls, as the Nifty ended in the red for the third consecutive week. Despite favourable conditions for a comeback, the bulls failed to capitalize on them,” Santosh Meena, Head of Research, Swastika Investmart Ltd, said. The market valuation of Reliance Industries slumped by Rs74,969.35 crore to Rs16,85,998.34 crore. The valuation of Life Insurance Corporation of India (LICI) eroded by Rs21,251.99 crore to Rs5,19,472.06 crore. State Bank of India’s valuation diminished by Rs17,626.13 crore to Rs6,64,304.09 crore and that of ICICI Bank tumbled Rs11,549.98 crore to Rs8,53,945.19 crore. On the other hand, the market capitalisation (mcap) of Infosys surged Rs24,934.38 crore to Rs7,78,612.76 crore. HDFC Bank added Rs9,828.08 crore taking its valuation to Rs12,61,627.89 crore.
The mcap of Bharti Airtel jumped Rs9,398.89 crore to Rs9,36,413.86 crore and that of Tata Consultancy Services (TCS) climbed Rs9,262.3 crore to Rs15,01,976.67 crore.
