Mcap of 7 of top-10 firms erodes by ₹88,635 crore in weak market last week

The combined market valuation of seven of the top-10 most valued firms eroded by ₹88,635.28 crore in a holiday-shortened last week, with Bharti Airtel and Tata Consultancy Services taking the biggest hit, in line with the weak trend in equities.

In a holiday-shortened last week, the BSE benchmark tanked 722.43 points or 0.86 per cent, and the Nifty declined by 229.8 points or 0.89 per cent.

While Reliance Industries, HDFC Bank, Bharti Airtel, Tata Consultancy Services (TCS), ICICI Bank, Infosys and Hindustan Unilever faced erosion from their valuation, State Bank of India, Bajaj Finance and Life Insurance Corporation of India (LIC) were the gainers from the top-10 pack.

The market valuation of Bharti Airtel tumbled ₹30,506.26 crore to ₹11,41,048.30 crore.

TCS faced an erosion of ₹23,680.38 crore from its valuation, which stood at ₹10,82,658.42 crore.

The market capitalisation (mcap) of Hindustan Unilever dropped by ₹12,253.12 crore to ₹5,67,308.81 crore, and that of Reliance Industries declined by ₹11,164.29 crore to ₹20,00,437.77 crore.

HDFC Bank's mcap dipped by ₹7,303.93 crore to ₹15,11,375.21 crore, and that of Infosys edged lower by ₹2,139.52 crore to ₹6,13,750.48 crore.

The valuation of ICICI Bank declined by ₹1,587.78 crore to ₹9,59,540.08 crore.

However, the mcap of LIC climbed ₹18,469 crore to ₹5,84,366.54 crore.

The market valuation of State Bank of India jumped ₹17,492.02 crore to ₹8,82,400.89 crore, and that of Bajaj Finance went up by ₹14,965.08 crore to ₹6,63,721.32 crore.

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