BackTen most valued Indian firms lose ₹3.35 trillion in m-cap, Reliance worst hit
Reliance Industries was the biggest hit, as its market capitalisation declined by ₹99,430.93 crore to ₹8,42,262.64 croreMarket valuation of TCS plummeted by ₹58,293.29 crore to ₹7,50,833.42 crore and m-cap of HDFC slid by ₹33,222.99 crore to 3,76,839.9 crore
PremiumNEW DELHI : The ten most valued domestic firms together lost a massive ₹3.35 trillion from their market capitalisation last week, as the equity markets witnessed massive sell-off amid fears of coronavirus outbreak turning into a pandemic.
Reliance Industries was the biggest hit, as its market capitalisation (m-cap) declined by ₹99,430.93 crore to ₹8,42,262.64 crore.
On February 28, the Sensex logged its second-biggest one-day fall in history as concerns over the rapidly-spreading coronavirus triggered a manic global sell-off.
During the week ended February 28, Sensex registered a plunge of 2,872.83 points or 6.97%, while the Nifty tumbled 879.10 or 7.27%.
Market valuation of Tata Consultancy Services plummeted by ₹58,293.29 crore to ₹7,50,833.42 crore and m-cap of HDFC slid by ₹33,222.99 crore to 3,76,839.9 crore.
Following the downtrend spiral in the broader market, the top ten firms witnessed significant erosion in their market capitalisation, traders said.
Among other blue-chip firms, m-cap of Hindustan Unilever plunged ₹15,792.31 crore to ₹4,70,824.97 crore and that of HDFC Bank declined by ₹21,369.47 crore to ₹6,45,544.93 crore.
The valuation of Infosys dropped ₹27,830.35 crore to ₹3,11,457.26 crore while Kotak Mahindra Bank lost ₹12,821.78 crore from its valuation to reach ₹3,09,721.16 crore.
Market valuation of ICICI Bank dived by ₹32,736.06 crore to ₹3,21,030.9 crore and SBI lost ₹22,088.41 crore from its m-cap to reach ₹2,70,326.48 crore.
Besides, Bharti Airtel stood at ₹2,85,898.48 crore by losing ₹11,702.17 crore.
The carnage in the equity markets wiped out investor wealth worth ₹5,45,452.52 crore, with the total market capitalisation of BSE-listed companies standing at ₹1,46,94,571.56 crore as on 28 February.
In the ranking of top-10 firms, RIL remained at the top position, followed by Tata Consultancy Services (TCS), HDFC Bank, HUL, HDFC, ICICI Bank, Infosys, Kotak Mahindra Bank, Bharti Airtel and SBI.
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