Mcap At Top-8 Cos Falls By Rs 1.65 Lakh Cr

New Delhi: Eight of the top-10 most valued firms together lost Rs1,65,180.04 crore from market valuation in a holiday-shortened last week, with HDFC Bank and State Bank of India (SBI) taking the hardest hit in line with a weak trend in equities.

Last week, BSE benchmark Sensex fell by 1,906.01 or 2.39 per cent. Equity markets were closed on Friday for Guru Nanak Jayanti.

“Mounting concerns over rising CPI inflation and persistent disappointments in corporate earnings weighed heavily on sentiment,” said Ajit Mishra, Sr V-P, (research), Religare Broking Ltd. The valuation of HDFC Bank tanked by Rs46,729.51 crore to Rs12,94,025.23 crore. State Bank’s market valuation eroded by Rs34,984.51 crore to Rs7,17,584.07 crore. The valuation of Hindustan Unilever slumped Rs27,830.91 crore to Rs5,61,329.10 crore, and that of Reliance Industries declined by Rs22,057.77 crore to Rs17,15,498.91 crore.

The market capitalisation (mcap) of ITC dived Rs15,449.47 crore to Rs5,82,764.02 crore, and Bharti Airtel tumbled Rs11,215.87 crore to Rs8,82,808.73 crore. The valuation of Life Insurance Corporation of India (LIC) dropped Rs4,079.62 crore to Rs5,74,499.54 crore, and that of ICICI Bank dipped Rs2,832.38 crore to Rs8,85,599.68 crore.

However, the mcap of Infosys climbed Rs13,681.37 crore to Rs7,73,962.50 crore. Also, Tata Consultancy Services (TCS) added Rs416.08 crore in market cap to Rs 15,00,113.36 crore. Reliance Industries remained the most valued domestic firm, followed by TCS, HDFC Bank, ICICI Bank, Bharti Airtel, Infosys, State Bank of India, ITC, LIC and Hindustan Unilever.

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