New Delhi, Aug 23 (PTI) The combined market valuation of four of the top 10 most valued firms eroded by ₹87,960.29 crore last week, with Bharti Airtel taking the biggest hit, in-tandem with a bearish trend in equities.
Last week, the BSE benchmark Sensex declined 468.42 points, or 0.60 per cent, and the NSE Nifty dipped 114 points, or 0.46 per cent.
"Indian equity markets ended the week on a cautious note, extending their recent corrective phase as elevated crude oil prices, rising global bond yields and persistent geopolitical uncertainty weighed on investor sentiment," Ajit Mishra – SVP, Research, Religare Broking Ltd, said.
Bharti Airtel drops ₹28,052.96 crore
The valuation of Bharti Airtel dropped ₹28,052.96 crore to ₹12,14,963.15 crore, the most among the top 10 firms.
Tata Consultancy Services (TCS) faced an erosion of ₹22,070.34 crore from its valuation, which stood at ₹8,31,436.51 crore.
The market capitalisation (mcap) of the State Bank of India declined ₹20,861.2 crore to ₹9,64,968.76 crore and that of Hindustan Unilever fell ₹16,975.79 crore to ₹4,73,912.56 crore.
LIC sees valuation jump ₹12,650 crore
However, the valuation of Life Insurance Corporation of India (LIC) jumped ₹12,650 crore to ₹5,35,980.31 crore.
The mcap of Reliance Industries surged ₹8,119.53 crore to ₹17,78,175.59 crore and that of Larsen & Toubro climbed ₹3,487.83 crore to ₹5,62,460.94 crore.
The market valuation of Bajaj Finance edged higher by ₹3,424.28 crore to ₹6,80,621.62 crore.
ICICI Bank added ₹752.47 crore taking its mcap to ₹10,18,330.45 crore.
The mcap of HDFC Bank went up ₹356.95 crore to ₹11,21,159.05 crore.
Reliance Industries remained the most valued firm, followed by Bharti Airtel, HDFC Bank, ICICI Bank, State Bank of India, TCS, Bajaj Finance, Larsen & Toubro, LIC and Hindustan Unilever.
Disclaimer: This story has been published from a wire agency feed without modifications to the text.
