Five among top 10 firms see market cap fall by Rs 1 lakh crore


Five among top 10 firms see market cap fall by Rs 1 lakh crore

NEW DELHI: The combined market cap of five of the top-10 most valued firms eroded by Rs 1 lakh crore last week, with IT bellwether TCS taking the biggest hit, amid a bearish trend in domestic equities.Last week, BSE benchmark sensex declined 490 points, or 0.6%, and the NSE Nifty dipped 205 points, or 0.8%. “Markets ended the week lower as elevated crude oil prices, renewed geopolitical uncertainty and mixed global cues weighed on investor sentiment,” Ajit Mishra of Religare Broking, said.While Reliance Industries, HDFC Bank, ICICI Bank, State Bank of India and Tata Consultancy Services (TCS) saw erosion in their valuation, Bharti Airtel, Bajaj Finance, Larsen & Toubro, Life Insurance Corporation of India (LIC) and Hindustan Unilever were the winners from the top-10 pack. These five firms together added Rs 55,149 crore in market cap.TCS’s market cap eroded by Rs 34,263.3 crore to about Rs 8.5 lakh crore. RIL declined by Rs 31,869 crore to Rs 17.7 lakh crore, and that of SBI dropped by Rs 25,892 crore to Rs 9.9 lakh crore. HDFC Bank edged lower by Rs 7,165 crore to Rs 11.2 lakh crore, and that of ICICI Bank diminished by Rs 2,793 crore to Rs 10.2 lakh crore. However, the valuation of LIC jumped Rs 26,439 crore to Rs 5.2 lakh crore. Bharti Airtel surged Rs 20,592 crore to Rs 12.4 lakh crore, and Bajaj Finance climbed Rs 3,548.8 crore to Rs 6.8 lakh crore. Larsen & Toubro added Rs 2,491 crore, taking its valuation to Rs 5.6 lakh crore.Hindustan Unilever’s market cap went up by Rs 2,079 crore to Rs 4.9 lakh crore.RIL remained the most valued domestic firm, followed by Bharti Airtel, HDFC Bank, ICICI Bank and SBI. Agencies



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