4 of 10 most valued firms lose Rs 1.25 lakh crore in market valuation; Reliance biggest laggard – The Tribune-OxBig News Network

The combined market valuation of four of the top 10 valued firms declined by Rs 1,25,397.45 crore last week, with Reliance Industries taking the biggest hit, in line with weak investors’ sentiment at Dalal Street.

Last week, the BSE benchmark index declined by 428.87 points or 0.55 per cent, and the Nifty dipped 111 points or 0.47 per cent.

“It was another tough week for the Bulls, as the Nifty ended in the red for the third consecutive week. Despite favourable conditions for a comeback, the bulls failed to capitalise on them,” Santosh Meena, Head of Research, Swastika Investmart Ltd, said.

The market valuation of Reliance Industries slumped by Rs 74,969.35 crore to Rs 16,85,998.34 crore.

The valuation of Life Insurance Corporation of India (LICI) eroded by Rs 21,251.99 crore to Rs 5,19,472.06 crore.

State Bank of India’s valuation diminished by Rs 17,626.13 crore to Rs 6,64,304.09 crore and that of ICICI Bank tumbled Rs 11,549.98 crore to Rs 8,53,945.19 crore.

On the other hand, the market capitalisation (mcap) of Infosys surged Rs 24,934.38 crore to Rs 7,78,612.76 crore.

HDFC Bank added Rs 9,828.08 crore taking its valuation to Rs 12,61,627.89 crore.

The mcap of Bharti Airtel jumped Rs 9,398.89 crore to Rs 9,36,413.86 crore and that of Tata Consultancy Services (TCS) climbed Rs 9,262.3 crore to Rs 15,01,976.67 crore.

Hindustan Unilever’s mcap soared Rs 3,442.15 crore to Rs 5,56,594.67 crore.

ITC’s valuation rallied Rs 1,689.08 crore to Rs 5,52,392.01 crore.

Reliance Industries remained the country’s most valued firm by mcap, followed by TCS, HDFC Bank, Bharti Airtel, ICICI Bank, Infosys, State Bank of India, Hindustan Unilever, ITC and LIC.