Market cap of 10 most valued firms erodes by ₹1.68 lakh crore: Report

The combined market valuation of the top 10 most valuable firms fell below 1,68,552.42 crore last week, with Reliance Industries being the biggest hit in an overall weak broad market.

last week, the Sensex Sensex lost 1,492.52 points or 2.43 percent. Market sentiment remained weak amid rising Covid cases in China and some other countries, while strong US growth data strengthened hopes of the Federal Reserve continuing with its accommodative stance.

Reliance Industries’ valuation dropped Rs 42,994.44 crore 16,92,411.37 crores. State Bank of India’s market valuation fell 26,193.74 crores from 5,12,228.09 crores.

HDFC Bank’s valuation has come down 22,755.96 crores from 8,90,970.33 crore and Life Insurance Corporation of India (LIC) drowned 18,690.03 crore from 4,16,848.97 crores.

The market capitalization (mcap) of ICICI Bank has decreased 16,014.14 crores from 6,13,366.40 crore and Hindustan Unilever declined 11,877.18 crores from 6,15,557.67 crores.

Infosys mcap down 10,436.04 crore from 6,30,181.15 crore and HDFC fell short 8,181.86 crores from 4,78,278.62 crores.

Bharti Airtel’s mcap has declined 7,457.25 crores from 4,49,868.21 crore and Tata Consultancy Services (TCS) dipped 3,951.78 crores from 11,80,885.65 crores.

In the ranking of top-10 companies, Reliance Industries retained the title of most valuable firm followed by TCS, HDFC Bank, Infosys, Hindustan Unilever, ICICI Bank, State Bank of India, HDFC, Bharti Airtel and LIC.

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