SBI, Reliance, top-10 firms see 35,439 crore market cap drop

The combined market valuation of seven of the top-ten most valued firms declined by ₹35,439.36 crore in a holiday-shortened last week, with State Bank of India (SBI) taking the biggest hit, in line with a muted trend in equities. Last week, the BSE benchmark climbed to 112.09 points or 0.13 % .

Of the top-10 pack, Reliance Industries, Tata Consultancy Services (TCS), ICICI Bank, SBI, Bajaj Finance, Larsen & Toubro and Life Insurance Corporation of India (LIC) faced erosion from their valuation, while HDFC Bank, Bharti Airtel and Infosys were the winners.

The market valuation of SBI dropped from ₹12,692.1 crore to ₹8,92,046.88 crore, while Reliance Industries’ saw a dip in valuation from ₹8,254.81 crore to ₹21,09,712.48 crore. While, Bajaj Finance faced an erosion of ₹5,102.43 crore to take its market valuation to ₹6,22,124.01 crore.

The market capitalisation of Larsen & Toubro declined by ₹4,002.94 crore to ₹5,56,436.22 crore, and ICICI Bank’s lowered by ₹2,571.39 crore to ₹9,65,669.15 crore. LIC’s valuation saw a dip by ₹1,802.62 crore to ₹5,37,403.43 crore. Likewise, TCS’s valuation took a slide by ₹1,013.07 crore to ₹11,86,660.34 crore. However, the valuation of HDFC Bank jumped ₹10,126.81 crore to ₹15,26,765.44 crore.

Infosys valuation surged by ₹6,626.62 crore to ₹6,87,818.84 crore, while Bharti Airtel’s valuation climbed by ₹5,359.98 crore to ₹12,00,692.32 crore.

Reliance Industries remained the most valued firm, followed by HDFC Bank, Bharti Airtel, TCS, ICICI Bank, SBI, Infosys, Bajaj Finance, Larsen & Toubro and LIC.