Mcap of 9 top valued firms slumps by ₹2.9 trillion; TCS, RIL hit hard

The combined market valuation of nine of the top-10 most valued firms eroded by ₹2,94,170.16 crore in the holiday-shortened last week, with Tata Consultancy Services taking the biggest hit amid a bearish trend in domestic equities.

Last week, the BSE benchmark gauge Sensex tanked 2,050.23 points or 2.64 per cent, while the NSE Nifty declined 614.8 points or 2.61 per cent.

From the top-10 pack, Tata Consultancy Services (TCS), Reliance Industries, Infosys, Bajaj Finance, ICICI Bank, HDFC Bank, Hindustan Unilever Ltd, State Bank of India and ITC faced erosion from their market valuation. Bharti Airtel emerged as the only gainer. 

The market valuation of TCS tumbled by ₹1,10,351.67 crore to ₹11,93,769.89 crore.

The valuation of index bellwether Reliance Industries tanked by Rs 95,132.58 crore to Rs 16,30,244.96 crore and that of Infosys plunged by ₹49,050.04 crore to ₹6,03,178.45 crore.

Bajaj Finance's market capitalisation (mcap) declined by ₹14,127.07 crore to ₹5,40,588.05 crore and that of ICICI Bank dropped by ₹9,503.66 crore to ₹9,43,264.95 crore.

Private sector lender HDFC Bank's valuation diminished by ₹8,800.05 crore to ₹13,90,408.68 crore and that of Hindustan Unilever Ltd dipped by ₹3,500.89 crore to ₹5,27,354.01 crore.

The market capitalisation (mcap) of the State Bank of India slumped by ₹3,391.35 crore to ₹6,85,232.33 crore and that of ITC slipped by ₹312.85 crore to ₹5,12,515.78 crore.

However, the mcap of Bharti Airtel climbed ₹7,013.59 crore to ₹9,94,019.51 crore.

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