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The market valuation of the top-10 most valued companies plunged by a whopping Rs 3.91 lakh crore final week, in tandem with a steep sell-off in equities, with TCS and and Reliance Industries taking the most important hit. Previous week, the BSE Sensex plunged 2,943.02 factors or 5.42 per cent, whereas the NSE Nifty declined 908.30 factors or 5.61 per cent.
Markets have been extraordinarily bearish of late amid price hikes by world central banks, unrelenting overseas fund outflows and bounce in crude oil costs. The market valuation of the ten most valued home companies eroded by Rs 3,91,620.01 crore final week.
From the top-10 companies, Tata Consultancy Companies (TCS) was the highest loser, as its market valuation tumbled Rs 1,01,026.4 crore to face at Rs 11,30,372.45 crore. The market capitalisation (mcap) of Reliance Industries Ltd (RIL) tanked Rs 84,352.76 crore to achieve Rs 17,51,686.52 crore.
The valuation of Infosys eroded by Rs 37,656.62 crore to Rs 5,83,846.01 crore and that of Life Insurance coverage Company (LIC) plunged by Rs 34,787.49 crore to Rs 4,14,097.60 crore.
HDFC Financial institution’s market valuation fell by Rs 33,507.66 crore to Rs 7,16,373.13 crore and that of HDFC dived Rs 22,977.51 crore to Rs 3,72,442.63 crore. ICICI Financial institution’s mcap declined by Rs 22,203.69 crore to Rs 4,78,540.58 crore and that of Hindustan Unilever (HUL) went decrease by Rs 20,535.43 crore to Rs 4,96,351.15 crore.
The mcap of State Financial institution of India (SBI) dipped by Rs 18,563.19 crore to Rs 3,93,575.37 crore and that of Bharti Airtel fell by Rs 16,009.26 crore to Rs 3,53,604.18 crore.
Within the rating of top-10 companies, Reliance Industries continued to stay probably the most valued firm, adopted by TCS, HDFC Financial institution, Infosys, HUL, ICICI Financial institution, LIC, SBI, HDFC and Bharti Airtel.
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