Rs 1.35 lakh crore wipeout: Seven of top 10 firms lose in market value; TCS sees biggest decline
NEW DELHI: Seven out of the top 10 highest-valued firms experienced a collective reduction of Rs 1.35 lakh crore in market value last week. The BSE benchmark decreased by 863.18 points, equivalent to 1.05 per cent.
The collective market value reduction of Rs 1,35,349.93 crore affected TCS, Bharti Airtel, ICICI Bank, State Bank of India, Infosys, Life Insurance Corporation of India (LIC) and Bajaj Finance.
In contrast,
Reliance Industries
, HDFC Bank and Hindustan Unilever recorded gains, with their combined market value increasing by Rs 39,989.72 crore.
TCS's value decreased by Rs 47,487.4 crore to Rs 10,86,547.86 crore, whilst Bharti Airtel's market capitalisation reduced by Rs 29,936.06 crore to Rs 10,74,903.87 crore.
The value of Bajaj Finance declined by Rs 22,806.44 crore to Rs 5,44,962.09 crore, and Infosys experienced a reduction of Rs 18,694.23 crore to Rs 6,10,927.33 crore.
State Bank of India's market capitalisation reduced by Rs 11,584.43 crore to Rs 7,32,864.88 crore. ICICI Bank's value decreased by Rs 3,608 crore to Rs 10,50,215.14 crore, while LIC's value fell by Rs 1,233.37 crore to Rs 5,59,509.30 crore.
Conversely, Hindustan Unilever Ltd increased by Rs 32,013.18 crore, reaching Rs 5,99,462.97 crore. HDFC Bank's value rose by Rs 5,946.67 crore to Rs 15,44,025.62 crore, and Reliance Industries Ltd increased by Rs 2,029.87 crore to Rs 18,85,885.39 crore.
In terms of market value ranking, Reliance Industries maintained its position at the top, followed by HDFC Bank, TCS, Bharti Airtel, ICICI Bank, State Bank of India, Infosys, Hindustan Unilever, LIC and Bajaj Finance.
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