Mcap At Top-8 Cos Falls By Rs 2 Lakh Cr

New Delhi: The combined market valuation (mcap) of eight of the 10 most valued domestic firms eroded by Rs2 lakh crore last week, with Reliance Industries (RIL) taking the biggest hit in line with a bearish trend in the broader stock market. Equity benchmark indices Sensex and Nifty extended their downward trend to the eighth day in a row 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 slumped 810 points or 3.41 per cent.

While Reliance Industries, Tata Consultancy Services (TCS), HDFC Bank, Infosys, State Bank of India, Hindustan Unilever, Bajaj Finance and ITC faced a combined erosion of Rs2,03,952.65 crore in their valuation, Bharti Airtel and ICICI Bank emerged as the gainers. The market capitalisation (mcap) of Reliance Industries tanked Rs67,526.54 crore to Rs 16,46,822.12 crore. The valuation of TCS tumbled Rs34,950.72 crore to Rs14,22,903.37 crore. HDFC Bank’s mcap eroded by Rs28,382.23 crore to Rs 12,96,708.35 crore and that of ITC plunged Rs25,429.75 crore to Rs5,13,699.85 crore.

The mcap of Infosys dropped Rs19,287.32 crore to Rs7,70,786.76 crore and that of State Bank of India declined Rs 13,431.55 crore to Rs 6,44,357.57 crore. The market valuation of Hindustan Unilever diminished by Rs10,714.14 crore to Rs 5,44,647 crore and that of Bajaj Finance dipped Rs 4,230.4 crore to Rs5,20,082.42 crore.