Nine of the top-10 most-valued companies suffered a combined erosion of Rs 98,862.63 crore in market valuation last week, with Reliance Industries Ltd (RIL) and SBI taking the steepest hit.
ITC was the only gainer from the top-10 list. RIL, Tata Consultancy Services (TCS), HDFC Bank, HUL, Infosys, HDFC, Kotak Mahindra Bank, State Bank of India (SBI) and ICICI Bank suffered losses for the week ended Friday, according to a weekly analysis of their market capitalisation (m-cap) trend on the BSE.
Over the last week, the Sensex dropped 737.53 points, or over 2 per cent, to close at 35,808.95 on Friday.
From the most-valued companies’ list, RIL’s valuation slumped Rs 21,456.38 crore to Rs 7,88,213.12 crore, the biggest hit among the top-10 firms.
The market cap of SBI plunged Rs 19,723.34 crore to Rs 2,34,672.03 crore, and that of TCS plummeted Rs 11,951.35 crore to Rs 7,62,071.81 crore.
HDFC’s valuation tumbled Rs 11,725.23 crore to Rs 3,22,531.39 crore and that of Hindustan Unilever Ltd (HUL) tanked Rs 9,600.22 crore to Rs 3,83,803.08 crore.
The m-cap of ICICI Bank dived Rs 8,293.27 crore to Rs 2,20,351.47 crore and that of Infosys dropped Rs 7,906.92 crore to Rs 3,24,044.79 crore.
HDFC Bank’s valuation declined Rs 5,998.66 crore to Rs 5,71,599.92 crore and that of Kotak Mahindra Bank dipped Rs 2,207.26 crore to Rs 2,44,943.86 crore. In contrast, ITC added Rs 4,593.55 crore to Rs 3,42,495.09 crore.
In the ranking of top-10 firms, RIL was at number one position, followed by TCS, HDFC Bank, HUL, ITC, Infosys, HDFC, Kotak Mahindra Bank, SBI and ICICI Bank.