Rs 4.74-Trn Mcap Loss At Top-9 Cos

New Delhi: Nine of the top-10 most valued firms together lost a whopping Rs4,74,906.18 crore in market valuation last week, with Reliance Industries and HDFC Bank taking the steepest hit, in line with weak trends in equities.

Markets faced heavy drubbing last week amid worsening tensions in the Middle East and foreign fund outflows. In a holiday-shortened week, the BSE benchmark plummeted 3,883.4 points, or 4.53 per cent. The valuation of Reliance Industries declined Rs1,88,479.36 crore to Rs18,76,718.24 crore. HDFC Bank’s market valuation slumped Rs72,919.58 crore to Rs12,64,267.35 crore. Bharti Airtel’s valuation plunged Rs53,800.31 crore to Rs9,34,104.32 crore and that of ICICI Bank tumbled Rs47,461.13 crore to Rs8,73,059.59 crore. The valuation of Life Insurance Corporation of India (LIC) plummeted Rs33,490.86 crore to Rs6,14,125.65 crore and that of Hindustan Unilever tanked Rs27,525.46 crore to Rs6,69,363.31 crore.

The market capitalisation (mcap) of ITC dropped Rs24,139.66 crore to Rs6,29,695.06 crore and that of Tata Consultancy Services (TCS) eroded by Rs21,690.43 crore to Rs15,37,361.57 crore. State Bank of India’s valuation went lower by Rs5,399.39 crore to Rs7,10,934.59 crore. However, the mcap of Infosys climbed Rs4,629.64 crore to Rs7,96,527.08 crore. 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.