Home Business Eight of top 10 firms lose Rs 1.03 lakh crore in market...

Eight of top 10 firms lose Rs 1.03 lakh crore in market valuation; Big blow to RIL, ICICI – Usky News


New Delhi: Eight of the top 10 valued firms faced a combined erosion of Rs 1,03,732.39 crore in market valuation last week, with Reliance Industries and ICICI Bank taking the biggest hit amid an overall weak trend in equities.
During a week lacking holidays, the 30-share BSE Sensex fell 673.84 points, or 1.12 per cent, amid concerns over the quantum of next interest rate hike by the US Federal Reserve.
Barring Bharti Airtel and ITC, eight firms faced a decline in their market capitalization (mcap).
Reliance Industries’ market valuation declined by Rs 41,878.37 crore to Rs 15,71,724.26 crore, the most among top 10 firms.
The mcap of ICICI Bank declined by Rs 18,134.73 to Rs 5,88,379.98 crore.
HDFC Bank’s valuation declined Rs 15,007.38 to Rs 8,86,300.20 crore and State Bank of India declined Rs 12,360.59 to Rs 4,88,399.39 crore.
The market capitalization of HDFC declined by Rs 6,893.18 crore to Rs 4,77,524.24 crore.
Tata Consultancy Services’ (TCS) valuation declined by Rs 4,281.09 to Rs 12,18,848.31 crore.
InfosysIts valuation declined by Rs 3,555.83 crore to Rs 6,19,155.97 crore and Hindustan Unilever’s valuation declined by Rs 1,621.22 crore to Rs 5,78,739.57 crore.
However, Bharti Airtel added Rs 5,071.99 crore, taking its valuation to Rs 4,31,230.51 crore.
ITC’s mcap rose by Rs 4,036.2 crore to Rs 4,81,922.33 crore.
Reliance Industries remained the most valued firm, followed by TCS, HDFC Bank, Infosys, ICICI Bank, Hindustan Unilever, State Bank of India, ITC, HDFC and Bharti Airtel.