Reliance Industries leads ₹1.54 lakh crore erosion in top-10 firms' market value as stock market declines
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The combined market valuation of seven of the top 10 valued firms eroded by Rs 1.54 lakh crore last week, with Reliance Industries taking the biggest hit.
In a holiday-shortened last week, the BSE benchmark Sensex dropped 639.61 points, or 0.84 per cent, and the NSE Nifty declined 171.55 points, or 0.72 per cent.
From the top 10 pack, Reliance Industries, HDFC Bank, Bharti Airtel, ICICI Bank, Tata Consultancy Services (TCS), Bajaj Finance and Hindustan Unilever faced erosion in their valuations, while State Bank of India, Larsen & Toubro and Life Insurance Corporation of India (LIC) were the gainers.
The market valuation of Reliance Industries dropped by Rs 46,078.3 crore to Rs 17,87,039.40 crore.
HDFC Bank's valuation eroded by Rs 33,333.06 crore to Rs 11,46,641.84 crore.
The valuation of Bharti Airtel tumbled Rs 25,408.96 crore to Rs 11,14,886.53 crore and that of TCS dived Rs 22,920.58 crore to Rs 8,15,480.75 crore.
The market capitalisation (mcap) of Hindustan Unilever diminished by Rs 13,169.46 crore to Rs 5,04,210.54 crore.
Bajaj Finance's valuation declined by Rs 7,253.24 crore to Rs 5,63,262.33 crore and that of ICICI Bank dipped by Rs 6,311.41 crore to Rs 9,00,589.91 crore.
However, the mcap of Larsen & Toubro jumped Rs 20,608.43 crore to Rs 5,60,836.64 crore.
State Bank of India's mcap climbed Rs 13,753.62 crore to Rs 8,89,831.54 crore and that of LIC went up by Rs 6,040.37 crore to Rs 5,20,484.06 crore.
Reliance Industries remained the most valued domestic firm followed by HDFC Bank, Bharti Airtel, ICICI Bank, State Bank of India, TCS, Bajaj Finance, Larsen & Toubro, LIC and Hindustan Unilever