Mcap of 5 most valued firms declines by Rs 93K cr; Infosys, TCS hit hard

The combined market capitalisation of five of the top-10 most valued firms declined by Rs 93,357.52 crore, with IT giants Infosys and Tata Consultancy Services taking the biggest hit, in line with a weak trend in domestic equities.

Last week, the BSE Sensex benchmark declined 503.67 points or 0.68 per cent, and the NSE Nifty fell 155.3 points or 0.69 per cent.

The stock markets were closed on Friday on the occasion of Holi festival.

Meanwhile, Infosys, Tata Consultancy Services (TCS), Hindustan Unilever, State Bank of India and Reliance Industries saw a decline in their market valuations.

In contrast, ICICI Bank, HDFC Bank, ITC, Bajaj Finance and Bharti Airtel posted gains. The five firms together added Rs 49,833.62 crore in their market capitalisation.

The market capitalisation (mcap) of Infosys dropped by Rs 44,226.62 crore to Rs 6,55,820.48 crore.

The Mumbai-based TCS' valuation tumbled by Rs 35,800.98 crore to Rs 12,70,798.97 crore and slipped to the third place among the country's 10-most valuable companies chart.

Hindustan Unilever's market valuation depreciated by Rs 6,567.11 crore to Rs 5,11,235.81 crore.

State Bank of India's mcap decreased by Rs 4,462.31 crore to Rs 6,49,489.22 crore, and that of Reliance Industries' went lower by Rs 2,300.50 crore, taking its market capitalisation to Rs 16,88,028.20 crore.

However, ICICI Bank's valuation surged by Rs 25,459.16 crore to Rs 8,83,202.19 crore.

The market valuation of HDFC Bank jumped by Rs 12,591.60 crore to Rs 13,05,169.99 crore and ITC added Rs 10,073.34 crore in its mcap to Rs 5,15,366.68 crore.

Bajaj Finance's valuation climbed by Rs 911.22 crore to Rs 5,21,892.47 crore and that of Bharti Airtel's mcap rallied by Rs 798.30 crore to Rs 9,31,068.27 crore.

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