Seven of top 10 companies lose over Rs 1 trillion in m-cap last week

Seven of the 10 most valued domestic companies suffered a combined erosion of Rs 1 trillion in their market valuation last week with HDFC Bank taking the biggest hit by losing over Rs 30,000 crore.

Besides HDFC Bank, the other losers included Reliance Industries (RIL), Hindustan Unilever (HUL), HDFC, Kotak Mahindra Bank, ICICI Bank and Bajaj Finance.

On the other hand, Tata Consultancy Services (TCS), Infosys and ITC are among the top 10 firms that saw rise in their market valuation for the week ended Friday.

Market capitalisation (m-cap) of HDFC Bank dropped the most by Rs 30,198.62 crore to Rs 6,50,446.47 crore.

ICICI Bank's market value slid by Rs 22,866.93 crore to Rs 2,67,265.32 crore and Kotak Mahindra Bank tumbled by Rs 15,624.6 crore to Rs 2,98,413.27 crore.

Similarly, market valuation of HUL tanked by Rs 14,287.76 crore to Rs 4,20,774.52 crore, while HDFC lost Rs 10,178.84 crore from its m-cap, standing at Rs 3,41,349.33 crore.

Besides, Bajaj Finance dropped by Rs 9,437.91 crore to Rs 2,26,309.37 crore and the valuation of RIL stood at Rs 8,28,808.67 crore, a loss of Rs 824.08 crore.

In contrast, valuation of TCS jumped Rs 8,236.49 crore to Rs 7,79,989.45 crore and that of Infosys rose Rs 4,681.59 crore to Rs 3,40,704.24 crore.

The m-cap of ITC advanced Rs 5,344.62 crore to Rs 3,16,069.96 crore.

In terms of ranking of top-10 firms, RIL retained its top position, followed by TCS, HDFC Bank, HUL, HDFC, Infosys, ITC, Kotak Mahindra Bank, ICICI Bank and Bajaj Finance, which pipped State Bank of India to acquire the tenth position.

During the week, Sensex plummeted 1,149.26 points or 2.96 per cent, while Nifty declined 337.65 points or 2.93 per cent.