New Delhi: Eight of the 10 most valued Indian companies suffered a combined erosion of ₹89,535 crore in market valuation last week, with SBI emerging as the biggest drag.
In the top-10 list, only Tata Consultancy Services (TCS) and HUL saw gains in their market capitalisation (m-cap) for the week ended on Friday.
Reliance Industries Ltd (RIL), HDFC Bank, HDFC, Infosys, ITC, Kotak Mahindra Bank, SBI and ICICI Bank closed the week with losses.
The valuation of SBI tumbled ₹30,388.3 crore to ₹2,75,279.64 crore.
RIL's m-cap plummeted ₹18,952.5 crore to ₹7,50,674.86 crore and that of HDFC Bank plunged ₹16,774.8 crore to ₹6,05,627.15 crore.
The market valuation of HDFC tanked ₹7,660.34 crore to ₹3,66,471.19 crore and that of ITC declined ₹6,995.81 crore to ₹3,24,753.23 crore.
Infosys' market cap eroded by ₹5,111.1 crore to reach ₹3,33,037.59 crore and that of ICICI Bank went lower by ₹3,003.03 crore to ₹2,65,122.36 crore.
The valuation of Kotak Mahindra Bank fell by ₹649.22 crore to ₹2,87,873.18 crore.
In contrast, the m-cap of TCS zoomed ₹36,491.94 crore to ₹8,27,794.83 crore and that of Hindustan Unilever Limited (HUL) jumped by ₹1,493.71 crore to ₹3,76,145 crore.
In the ranking of top-10 firms, TCS was at the number one ranking, followed by RIL, HDFC Bank, HUL, HDFC, Infosys, ITC, Kotak Mahindra Bank, SBI and ICICI Bank.
Last week, the Sensex lost 764.57 points or 2.01%