Eight of the 10 most valued firms faced a combined erosion of ₹1,17,493.78 crore in market valuation in an overall weak trend in equities last week, with Infosys taking the biggest hit.

Reliance Industries, Tata Consultancy Services (TCS), HDFC Bank, and ICICI Bank were among the eight companies that suffered a decline in their valuation. ITC and State Bank of India were the only gainers.

Last week, the 30-share BSE Sensex fell by 775.94 points or 1.28 per cent.

The market valuation of Infosys plummeted by ₹66,854.05 crore to ₹5,09,215 crore. Infosys Ltd on April 13 reported lower-than-expected growth in the fourth quarter net profit and gave a weak 4-7 per cent revenue growth guidance for FY24 amid tightening of IT budgets by clients following turmoil in the US banking sector.

Also read: IT stocks hammered in market spooked by weak outlook

HDFC Bank's valuation tumbled ₹10,880.5 crore to ₹9,33,937.35 crore.

ICICI Bank lost ₹10,462.77 crore from its valuation which stood at ₹6,17,477.46 crore and the market capitalisation (mcap) of TCS tanked ₹10,318.52 crore to ₹11,56,863.98 crore.

The mcap of Hindustan Unilever declined by ₹8,458.53 crore to ₹5,86,927.90 crore and that of HDFC fell by ₹5,172.27 crore to ₹5,06,264.24 crore.

The market valuation of Reliance Industries went lower by ₹4,566.52 crore to ₹15,89,169.49 crore and that of Bharti Airtel dipped ₹780.62 crore to ₹4,26,635.46 crore.

Also read: Indian banks’ market cap declines in Q4 FY23 on Adani exposure concerns: S&P Market

However, ITC's valuation jumped ₹15,907.86 crore to ₹5,07,373.82 crore and that of State Bank of India climbed ₹8,746.11 crore to ₹4,84,561.80 crore.

Reliance Industries remained the most valued firm, followed by TCS, HDFC Bank, ICICI Bank, Hindustan Unilever, Infosys, ITC, HDFC, State Bank of India and Bharti Airtel.

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