HDFC Bank, LIC, and 2 other companies lose about Rs 3.5 lakh crore mcap per week
Nine of the 10 most valuable firms collectively lost a whopping Rs 4,74,906.18 in market capitalization last week, while Reliance Industries and HDFC Bank took the brunt, in line with the weak trend in equities. Markets have been hit hard in the past week amid tensions in the Middle East and foreign capital outflows. In the holiday-shortened week, the BSE benchmark fell by 3,883.4 points, or 4.53 percent.
The valuation of Reliance Industries fell by Rs 1,88,479.36 crore to Rs 18,76,718.24 crore.
HDFC Bank’s market capitalization fell by Rs 72,919.58 crore to Rs 12,64,267.35 crore.
Bharti Airtel’s valuation fell by Rs 53,800.31 to Rs 9,34,104.32 crore and that of ICICI Bank fell by Rs 47,461.13 to Rs 8,73,059.59 crore.
The value of Life Insurance Corporation of India (LIC) fell by Rs 33,490.86 to Rs 6,14,125.65 crore and that of Hindustan Unilever fell to Rs 6,69,363.31 crore.
The market capitalization (mcap) of ITC fell by Rs 24,139.66 crore to Rs 6,29,695.06 crore and that of Tata Consultancy Services (TCS) fell by Rs 21,690.43 crore to Rs 15,37,361.57 crore.
State Bank of India’s value decreased by Rs 5,399.39 crore to Rs 7,10,934.59 crore.
However, Infosys’ mcap increased by Rs 4,629.64 crore to Rs 7,96,527.08 crore.
Reliance Industries retained the title of the most valuable company, followed by TCS, HDFC Bank, Bharti Airtel, ICICI Bank, Infosys, State Bank of India, Hindustan Unilever, ITC, and LIC.
