Market cap of 6 of top 10 valued firms erodes by ₹70,325.5 cr; check for winners and losers

The combined market valuation of six of India’s top-10 most valued companies eroded by ₹70,325.5 crore last week.

The downturn was a result of a bearish trend in the equity market, with the BSE benchmark Sensex dropping 0.74% or 626.01 points, PTI reported.

The week’s biggest losers

HDFC Bank and ICICI Bank were the worst-hit among the top 10 firms, mirroring the market downturn. Here are a few others:

• HDFC Bank: Witnessed a steepest decline, with its valuation falling by 19,284.8 crore, bringing its market cap to ₹15,25,339.72 crore.
• ICICI Bank: The bank lost ₹13,566.92 crore in its market valuation which stood at ₹10,29,470.5 crore.

• Bajaj Finance: Its valuation dropped by ₹13,236.44 crore to ₹5,74,977.11 crore.
• Life Insurance Corporation of India (LIC): Its market cap shrank by ₹10,246.49 crore to ₹5,95,277.16 crore.
• Tata Consultancy Services (TCS): This firm faced an erosion of ₹8,032.15 crore from its market capitalisation which stood at ₹12,37,729.65 crore.

• Bharti Airtel: Its market cap fell by ₹5,958.7 crore to ₹11,50,371.24 crore.

Winners amidst the dip

Despite the market downturn, some firms managed to ditch the trend and register gains in their market valuation. The following companies emerged as winners:

• Reliance Industries: Mukesh Ambani-owned firm was the top gainer, with its valuation jumping by ₹15,359.36 crore to ₹20,66,949.87 crore.
• Infosys: The tech giant added ₹13,127.51 crore in its valuation to ₹6,81,383.80 crore.

• Hindustan Unilever ltd (HUL): The market cap of this firm climbed ₹7,906.37 crore to ₹5,49,757.36 crore
• State Bank of India (SBI): The market valuation went up by ₹5,756.38 crore, bringing it to ₹7,24,545.28 crore in valuation.

Top-10 companies by market cap

Reliance Industries retained the title of the most valued firm of India, followed by HDFC Bank, TCS, Bharti Airtel, ICICI Bank, State Bank of India, Infosys, LIC, Bajaj Finance and Hindustan Unilever Ltd, the news agency reported.