Mcap of top valued firms erodes by Rs 70,487 cr; RIL, TCS biggest laggards

Six of 10 most valued firms faced a combined erosion of Rs 70,486.95 cr in their market valuation last week, with Reliance Industries and TCS taking the biggest hit following a weak trend in equities

Six of the 10 most valued firms faced a combined erosion of Rs 70,486.95 crore in their market valuation last week, with Reliance Industries and Tata Consultancy Services (TCS) taking the biggest hit following a weak trend in equities.

While Reliance Industries, TCS, HDFC Bank, ITC, State Bank of India and HDFC were the laggards from the top 10 pack, ICICI Bank, Hindustan Unilever, Infosys and Bharti Airtel were the gainers.

Last week, the BSE Sensex declined 298.22 points or 0.48 per cent.

"Markets took a breather last week and shed half a per cent amid mixed cues. The beginning was upbeat, however, profit-taking in heavyweights across sectors pushed the index lower in the following sessions," Ajit Mishra, VP - Technical Research at Religare Broking Ltd, said.

Among major losers, the market valuation of Reliance Industries fell by Rs 27,941.49 crore to Rs 16,52,702.63 crore and that of TCS eroded by Rs 19,027.06 crore to Rs 11,78,854.88 crore.

HDFC Bank's valuation declined by Rs 10,527.02 crore to Rs 9,20,568.10 crore and HDFC's by Rs 9,585.82 crore to Rs 4,99,848.62 crore.

The mcap of State Bank of India went lower by Rs 2,722.01 crore to Rs 5,13,209.81 crore and that of ITC dipped Rs 683.55 crore to Rs 5,21,852.46 crore.

However, Infosys added Rs 9,733.98 crore to its valuation at Rs 5,26,491.90 crore.

The mcap of Bharti Airtel jumped Rs 7,722.54 crore to Rs 4,49,050.34 crore and that of ICICI Bank rallied Rs 7,716.4 crore to Rs 6,67,196.10 crore.

The valuation of Hindustan Unilever climbed Rs 4,229.27 crore to Rs 6,20,621.04 crore.

Reliance Industries continued to rule the top 10 most valued firms chart, followed by TCS, HDFC Bank, ICICI Bank, Hindustan Unilever, Infosys, ITC, State Bank of India, HDFC and Bharti Airtel.