Seven of the 10 most valued companies suffered a combined loss of Rs 1.89 lakh crore in market valuation last week, led by Reliance Industries which alone took a hit of Rs 87,732.8 crore.
The 30-share BSE Sensex plummeted by 1,877.66 points to close below the key 40,000-mark at 39,735.53 last week. RIL’s valuation tumbled Rs 87,732.8 crore to reach Rs 8,76,906.57 crore. The market capitalisation (m-cap) of HDFC plummeted Rs 31,148.4 crore to Rs 3,92,618.14 crore and that of HDFC Bank by Rs 24,736 crore to Rs 6,56,888.50 crore.
The m-cap of ICICI Bank dropped Rs 19,044.7 crore to Rs 3,26,410.37 crore and that of†SBI cracked Rs 18,652.4 crore to Rs 2,70,549.60 crore. The valuation of Tata Consultancy Services (TCS) declined Rs 7,317.15 crore to Rs 8,12,428.81 crore and that of Infosys dipped Rs 1,149.83 crore to Rs 3,32,280.10 crore.
In contrast, Bharti Airtel which made its entry into the top-10 list, added Rs 2,392.15 crore to Rs 2,71,332.15 crore in its valuation. Kotak Mahindra Bank’s valuation rose by Rs 1,182.02 crore to Rs 3,15,346.61 crore and that of Hindustan Unilever Limited (HUL) gained Rs 119.07 crore to Rs 4,48,895.43 crore.
In the ranking of top-10 firms, RIL remained at the number one place followed by TCS, HDFC Bank, HUL, HDFC, Infosys, ICICIBANK, Kotak Mahindra Bank, Bharti Airtel and SBI.