Market cap of nine most valued firms falls by over Rs 2.48 trillion

ICICI Bank is the only firm among market leaders to improve valuation last week; Reliance continues as India's most valued company.

The combined market valuation of nine of the top-10 most valued companies fell by Rs 2,48,542.3 crore last week in line with a weak broader market trend, with Reliance Industries and HDFC Bank emerging as the biggest laggards.

Last week, the BSE benchmark Sensex tumbled by 1,514.69 points or 2.49 per cent. On the top-10 list, ICICI Bank was the only gainer. The market valuation of Reliance Industries Ltd (RIL) declined by Rs 56,741.2 crore to reach Rs 16,09,686.75 crore.

HDFC Bank's valuation came down by Rs 54,843.3 crore to Rs 8,76,528.42 crore and Tata Consultancy Services (TCS) saw an erosion of Rs 37,452.9 crore in its worth at Rs 12,57,233.58 crore.

The valuation of Infosys plunged by Rs 27,678.78 crore to Rs 7,01,731.59 crore and that of Kotak Mahindra Bank was down by Rs 27,545.09 crore at Rs 4,03,013 crore.

The market capitalisation (Mcap) of Bajaj Finance dipped by Rs 18,774.8 crore to Rs 4,46,801.66 crore and that of Hindustan Unilever Ltd (HUL) tanked by Rs 14,356 crore to Rs 5,62,480.40 crore.

HDFC's valuation declined by Rs 10,659.37 crore to Rs 5,14,217.69 crore and State Bank of India (SBI) mcap fell by Rs 490.86 crore to Rs 4,48,372.48 crore.

In contrast, ICICI Bank added Rs 30,010.44 crore, taking its valuation to Rs 5,56,507.71 crore.

In the ranking of top-10 firms, RIL remained the most valued company followed by TCS, HDFC Bank, Infosys, HUL, ICICI Bank, HDFC, SBI, Bajaj Finance and Kotak Mahindra Bank.