Mcap of 9 of top-10 most valued firms drops Rs 2 trn as markets tumble

Nine of the top-10 most valued firms together lost a whopping Rs 2,09,952.26 crore from market valuation last week, in line with weak trends in equities, with Hindustan Unilever and Reliance Industries Limited taking the biggest hit.

Last week, the BSE benchmark tanked 1,822.46 points or 2.24 per cent.

"The dismal Q2 earnings so far have aggravated the investors' woes while persistent FII selling continued to create havoc in the market," said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.

From the top-10 pack, HDFC Bank emerged as the only winner.

The market valuation of Hindustan Unilever eroded by Rs 44,195.81 crore to Rs 5,93,870.94 crore.

Reliance Industries' valuation tumbled Rs 41,994.54 crore to Rs 17,96,726.60 crore.

State Bank of India's market valuation plummeted by Rs 35,117.72 crore to Rs 6,96,655.84 crore, and that of Bharti Airtel tanked by Rs 24,108.72 crore to Rs 9,47,598.89 crore.

The market capitalisation (mcap) of Tata Consultancy Services (TCS) dropped by Rs 23,137.67 crore to Rs 14,68,183.73 crore.

The valuation of Life Insurance Corporation of India (LIC) diminished by Rs 19,797.24 crore to Rs 5,71,621.67 crore, and that of Infosys declined by Rs 10,629.49 crore to Rs 7,69,496.61 crore.

ITC's mcap fell by Rs 5,690.96 crore to Rs 6,02,991.33 crore, and that of ICICI Bank went lower by Rs 5,280.11 crore to Rs 8,84,911.27 crore.

However, the mcap of HDFC Bank jumped Rs 46,891.13 crore to Rs 13,29,739.43 crore.

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