The combined market valuation of nine of the top-10 most valued companies fell by Rs 2,48,542.3 crore last week in line with a weak broader market trend, with Reliance Industries and HDFC Bank emerging as the biggest laggards.
Last week, the BSE benchmark Sensex tumbled by 1,514.69 points or 2.49 per cent. On the top-10 list, ICICI Bank was the only gainer.
Here are the list of companies that saw a decrese in their market value:
Reliance Industries Ltd (RIL): The market valuation of Reliance Industries declined by Rs 56,741.2 crore to reach Rs 16,09,686.75 crore.
HDFC Bank: The bank’s valuation came down by Rs 54,843.3 crore to Rs 8,76,528.42 crore.
Tata Consultancy Services (TCS): The company saw an erosion of Rs 37,452.9 crore in its worth at Rs 12,57,233.58 crore.
Infosys: The valuation of the IT firm plunged by Rs 27,678.78 crore to Rs 7,01,731.59 crore.
Kotak Mahindra Bank: The bank was down by Rs 27,545.09 crore at Rs 4,03,013 crore.
Bajaj Finance: The market capitalisation (Mcap) of Bajaj Finance dipped by Rs 18,774.8 crore to Rs 4,46,801.66 crore.
Hindustan Unilever Ltd (HUL): The FMCG major tanked by Rs 14,356 crore to Rs 5,62,480.40 crore.
HDFC: The company’s valuation declined by Rs 10,659.37 crore to Rs 5,14,217.69 crore.
State Bank of India (SBI): The bank;s valuation fell by Rs 490.86 crore to Rs 4,48,372.48 crore.
Meanwhile, in contrast, ICICI Bank added Rs 30,010.44 crore, taking its valuation to Rs 5,56,507.71 crore.
In the ranking of top-10 firms, RIL remained the most valued company followed by TCS, HDFC Bank, Infosys, HUL, ICICI Bank, HDFC, SBI, Bajaj Finance and Kotak Mahindra Bank.
In the meantime, commenting about the market, Yesha Shah, Head of Equity Research at Samco Securities told The Economic Times, the sentiment currently seems bearish. The next crucial support level is now placed at 17,250. A decisive break below this level can extend the price and time correction to a couple of days going ahead.
(With PTI Inputs)