Equity mcap drops to 7-mth low in Feb

New Delhi: Equity market capitalisation (mcap) dropped to a seven-month low in February, with the top-10 companies losing a whopping Rs 3,33,307.62 crore in market valuation last week.

The total equity market capitalisation (m-cap) in February 2022 stood at Rs2,49,97,053.39 crore. The previous low was in July 2021, when the m-cap of BSE-listed companies was at Rs2,35,49,748.9 crore. In January, the m-cap stood at Rs2,64,41,207.18 crore. During the week, equity m-cap was Rs2,57,39,712.95 crore on Monday and was at its lowest on Thursday, at Rs2,42,24,179.79 crore, the day Russian President Vladimir Putin announced a military operation in Ukraine. On a weekly basis, Reliance Industries Ltd's market valuation dropped Rs 94,828.02 crore to reach Rs15,45,044.14 crore. The market valuation of Tata Consultancy Services (TCS) tumbled Rs1,01,760.91 crore to stand at Rs 13,01,955.11 crore. HDFC Bank's market capitalisation tanked Rs31,597.65 crore to Rs8,06,931.95 crore. The valuation of Infosys eroded by Rs5,501.34 crore to Rs7,12,443.09 crore and that of ICICI Bank declined by Rs13,240.66 crore to Rs5,07,414.1 crore.

The market capitalisation of HDFC plunged Rs6,929.03 crore to reach Rs4,35,233.9 crore and that of Hindustan Unilever Ltd (HUL) fell by Rs33,234.97 crore to Rs5,09,990.53 crore. State Bank of India's market capitalisation declined by Rs 29,094.23 crore to Rs 4,30,924.87 crore and that of Bajaj Finance dipped Rs3,802.65 crore to Rs 4,20,653.95 crore. The valuation of Bharti Airtel diminished by Rs13,318.16 crore to Rs3,78,098.62 crore. In the ranking of the top 10 firms, Reliance Industries Ltd continued to maintain its numero uno position, followed by TCS, HDFC Bank, Infosys, HUL, ICICI Bank, HDFC, SBI, Bajaj Finance and Bharti Airtel.