Nine of top 10 firms lose nearly ₹2.2 lakh crore in market valuation
Nine of the 10 most-valued companies lost a whopping ₹2,19,920.71 lakh crore in their total market valuation last week with the barometer Sensex tanking more than 3 per cent.
Reliance Industries (RIL) was the only scrip to post gains in its market valuation among the top 10 valued companies.
Among losers, Tata Consultancy Services' market valuation tanked ₹81,506.34 crore to ₹10,71,263.77 crore. The valuation of HDFC Bank declined by ₹2,202.12 crore to reach ₹8,45,552.53 crore.
The market capitalisation (m-cap) of ICICI Bank dropped by ₹18,098.57 crore to ₹4,13,078.87 crore and that of Hindustan Unilever by ₹11,536.32 crore to ₹5,00,937.14 crore.
HDFC's valuation declined by ₹35,389.88 crore to reach ₹4,57,518.73 crore and that of Infosys by ₹16,613.57 crore to ₹5,33,487.07 crore.
The market capitalisation of Bajaj Finance fell by ₹15,712.46 crore to ₹3,15,653.33 crore and that of Kotak Mahindra Bank dipped ₹30,695.43 crore to ₹3,53,081.63 crore.
The valuation of SBI went down by ₹8,166.02 crore to reach ₹3,48,238.34 crore.
Lone gainer RIL, on the other hand, added ₹2,092.01 crore to its valuation which stood at ₹13,21,044.35 crore at close on Friday.
Key benchmark index Sensex dropped by 1,786 points or 3.46 per cent last week amid weak global cues.
The 30-share index posted its biggest single-day fall in nearly 10 months on Friday while the NSE Nifty plunged over 568 points to crack below the psychological 15,000-mark, tracking global selloffs triggered by a panic in bond markets overseas.
In the ranking of 10 most-valued companies, RIL was at the top of the chart followed by TCS, HDFC Bank, Infosys, Hindustan Unilever Limited, HDFC, ICICI Bank, Kotak Mahindra Bank, SBI and Bajaj Finance.