New Delhi- Six of the top 10 most valuable domestic companies suffered a combined decline of Rs 1,02,280.51 crore in market valuation last week amid a weak trend in equities, with Reliance Industries the biggest hit.
Last week, the BSE benchmark fell 405.21 points or 0.63 per cent amid bearish trend in global equities and concerns over rate hikes by central banks of various countries. Among the top 10 pack, Reliance Industries, ICICI Bank, Hindustan Unilever, ITC, Infosys and State Bank of India suffered a decline in their market capitalization (mcap). However, Tata Consultancy Services (TCS), HDFC Bank, HDFC and Bharti Airtel were among the gainers.
The market valuation of Reliance Industries declined by Rs 40,695.15 crore to Rs 17,01,720.32 crore. The mcap of Hindustan Unilever declined by Rs 17,222.5 crore to Rs 6,20,797.26 crore. State Bank’s valuation declined by Rs 14,814.86 crore to Rs 4,95,048.22 crore and that of Infosys declined by Rs 11,204.66 crore to Rs 5,25,228.89 crore.
ITC’s mcap declined by Rs 10,625.95 crore to Rs 5,52,611.81 crore and ICICI Bank declined by Rs 7,717.39 crore to Rs 6,46,262.77 crore. However, HDFC Bank added Rs 23,525.6 crore, taking its market valuation to Rs 9,18,984.17 crore.
The mcap of TCS rose by Rs 15,441.19 crore to Rs 11,77,281.48 crore. HDFC’s valuation rose by Rs 13,821.74 crore to Rs 5,03,318.08 crore and Bharti Airtel’s valuation rose by Rs 11,297.68 crore to Rs 4,77,710.47 crore.
In the ranking of the top 10 most valuable companies, Reliance Industries continued to rule the charts, followed by TCS, HDFC Bank, ICICI Bank, Hindustan Unilever, ITC, Infosys, HDFC, State Bank of India and Bharti Airtel. (PTI)