New Delhi: Market capitalisation (m-cap) of the top-10 most valued companies eroded by over Rs 2.09 lakh crore last week, with Reliance Industries and TCS taking the biggest hit amid an overall weak trend in equities. On a weekly basis, domestic equity benchmarks witnessed heavy selling. The 30-share BSE Sensex plummeted 1,145.23 points or 1.93 percent.
Corporate major Reliance Industries’ m-cap plunged Rs 67,722.33 crore to Rs 15,04,001.93 crore. IT bellwethers TCS’ market valuation tumbled Rs 55,654.17 crore to Rs 11,63,194.14 crore and that of Infosys nosedived Rs 21,250.8 crore to Rs 5,97,905.17 crore. (Also Read: OpenAI CEO Sam Altman Admits ChatGPT Can Eliminate Human Jobs)
The valuation of the State Bank of India (SBI) diminished by Rs 16,108.93 crore to Rs 4,72,290.46 crore and that of ITC tanked Rs 15,226.12 crore to Rs 4,66,696.21 crore.
M-cap of telecom major Bharti Airtel slumped by Rs 9,053.44 crore to Rs 4,22,177.07 crore and that of HDFC Bank declined by Rs 8,982.11 crore to Rs 8,77,318.09 crore.
HDFC also witnessed a dip of Rs 8,063.79 crore in its market valuation, which stood at Rs 4,69,460.45 crore.
Private sector lender ICICI Bank’s m-cap declined Rs 4,396.91 crore to Rs 5,83,983.07 crore and that of Hindustan Unilever Ltd (HUL) slipped by Rs 3,465.65 crore to Rs 5,75,273.92 crore.
In the ranking of top-10 firms, Reliance Industries retained the title of the most valued firm, followed by TCS, HDFC Bank, Infosys, ICICI Bank, HUL, SBI, HDFC, ITC, and Bharti Airtel.