Nine of the top 10 firms lose nearly ₹2.2 lakh cr in market valuation - sources
Nine of the 10 most-valued companies lost a whopping ₹2,19,920.71 lakh crore in their total market valuation last week with the barometer Sensex tanking more than 3%.
Reliance Industries (RIL) was the only scrip to post gains in its market valuation among the top 10 valued companies.
Among losers, Tata Consultancy Services’ market valuation tanked Rs 81,506.34 crore to Rs 10,71,263.77 crore. The valuation of HDFC Bank declined by Rs 2,202.12 crore to reach Rs 8,45,552.53 crore.
The market capitalization of ICICI Bank dropped by ₹18,098.57 crores to ₹4,13,078.87 crore and that of Hindustan Unilever by ₹11,536.32 crores to ₹5,00,937.14 crore. HDFC’s valuation declined by ₹35,389.88 crores to reach ₹4,57,518.73 crore and that of Infosys by ₹16,613.57 crore to ₹5,33,487.07 crore.
The market capitalization of Bajaj Finance fell by ₹15,712.46 crores to ₹3,15,653.33 crore and that of Kotak Mahindra Bank dipped ₹30,695.43 crores to ₹3,53,081.63 crore.
The valuation of SBI went down by ₹8,166.02 crores to reach ₹3,48,238.34 crore.
Lone gainer RIL, on the other hand, added ₹2,092.01 crores to its valuation which stood at ₹13,21,044.35 crore at close on Friday.
Key benchmark index Sensex dropped by 1,786 points or 3.46 percent last week amid weak global cues.
The 30-share index posted its biggest single-day fall in nearly 10 months on Friday while the NSE Nifty plunged over 568 points to crack below the psychological 15,000-mark, tracking global selloffs triggered by a panic in bond markets overseas.
In the ranking of 10 most-valued companies, RIL was at the top of the chart followed by TCS, HDFC Bank, Infosys, Hindustan Unilever Limited, HDFC, ICICI Bank, Kotak Mahindra Bank, SBI, and Bajaj Finance.
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Nikita Dhyani is a passionate writer. She basically writes on Health, Finance, and Politics related topics. She has explored many areas of interest and is being a part of the journalism industry.
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