New Delhi: The combined market valuation of five of the top 10 valued firms eroded by Rs 1,67,936.21 crore last week, with HDFC Bank emerging as the biggest laggard.
Last week, the 30-share BSE benchmark fell by 1,144.8 points 1.57 per cent. The NSE and BSE conducted normal trading sessions January 20.
While Reliance Industries, Tata Consultancy Services (TCS), HDFC Bank, Hindustan Unilever and State Bank of India faced erosion in their valuation, ICICI Bank, Infosys, Bharti Airtel, Life Insurance Corporation of India (LIC) and ITC were the gainers in the top-10 pack.
The market valuation of HDFC Bank eroded by Rs1,22,163.07 crore to Rs11,22,662.76 crore.
Shares of HDFC Bank fell for the third day in a row on Friday, tumbling over 12 per cent, as investors deserted the counter after the company’s December quarter earnings failed to impress the market. HDFC Bank shares bounced back on Saturday, climbing 0.54 per cent.
Reliance Industries valuation fell by Rs18,199.35 crore to Rs18,35,665.82 crore.
Hindustan Unilever’s market valuation diminished by Rs17,845.15 crore to Rs5,80,184.57 crore and that of TCS declined by Rs7,720.6 crore to Rs14,12,613.37 crore.
The market capitalisation (mcap) of State Bank of India dipped Rs2,008.04 crore to Rs5,63,589.24 crore.
However, the mcap of LIC jumped Rs67,456.1 crore to reach Rs5,92,019.78 crore.
Life Insurance Corporation of India (LIC) surpassed State Bank of India (SBI) to become the country’s most valued PSU firm by market valuation on Wednesday.
Bharti Airtel added Rs26,380.94 crore taking its market valuation to Rs6,31,679.96 crore.
The mcap of Infosys climbed Rs15,170.75 crore to Rs6,84,305.90 crore and that of ICICI Bank rallied Rs3,163.72 crore to Rs7,07,373.79 crore.
ITC’s valuation climbed Rs2,058.48 crore to Rs5,84,170.38 crore.
Reliance Industries continued to rule the top-10 most valued firms ranking chart followed by TCS, HDFC Bank, ICICI Bank, Infosys, Bharti Airtel, LIC, ITC, Hindustan Unilever and State Bank of India.
PTI