Market crash: Top 10 firms lose ₹3.91 lakh cr in m-cap; TCS, RIL biggest laggards

Market


The market valuation of the top-10 most valued firms plunged by a whopping 3.91 lakh crore last week, in tandem with a steep sell-off in equities, with TCS and and Reliance Industries taking the biggest hit.

Past week, the BSE Sensex plunged 2,943.02 points or 5.42 per cent, while the NSE Nifty declined 908.30 points or 5.61 per cent.

Markets have been extremely bearish of late amid rate hikes by global central banks, unrelenting foreign fund outflows and jump in crude oil prices.

The market valuation of the 10 most valued domestic firms eroded by 3,91,620.01 crore last week.

From the top-10 firms, Tata Consultancy Services (TCS) was the top loser, as its market valuation tumbled 1,01,026.4 crore to stand at 11,30,372.45 crore.

The market capitalisation (mcap) of Reliance Industries Ltd (RIL) tanked 84,352.76 crore to reach 17,51,686.52 crore.

The valuation of Infosys eroded by 37,656.62 crore to 5,83,846.01 crore and that of Life Insurance Corporation (LIC) plunged by 34,787.49 crore to 4,14,097.60 crore.

HDFC Bank’s market valuation fell by 33,507.66 crore to 7,16,373.13 crore and that of HDFC dived 22,977.51 crore to 3,72,442.63 crore.

ICICI Bank’s mcap declined by 22,203.69 crore to 4,78,540.58 crore and that of Hindustan Unilever (HUL) went lower by 20,535.43 crore to 4,96,351.15 crore.

The mcap of State Bank of India (SBI) dipped by 18,563.19 crore to 3,93,575.37 crore and that of Bharti Airtel fell by 16,009.26 crore to 3,53,604.18 crore.

In the ranking of top-10 firms, Reliance Industries continued to remain the most valued company, followed by TCS, HDFC Bank, Infosys, HUL, ICICI Bank, LIC, SBI, HDFC and Bharti Airtel.

This story has been published from a wire agency feed without modifications to the text.

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