19 Jun , 2022 By : Kanchan Joshi
The market valuation of the top-10 most valued firms plunged by a whopping Rs3.91 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 Rs3,91,620.01 crore last week.
From the top-10 firms, Tata Consultancy Services (TCS) was the top loser, as its market valuation tumbled Rs1,01,026.4 crore to stand at Rs11,30,372.45 crore.
The market capitalisation (mcap) of Reliance Industries Ltd (RIL) tanked Rs84,352.76 crore to reach Rs17,51,686.52 crore.
The valuation of Infosys eroded by Rs37,656.62 crore to Rs5,83,846.01 crore and that of Life Insurance Corporation (LIC) plunged by Rs34,787.49 crore to Rs4,14,097.60 crore.
HDFC Bank's market valuation fell by Rs33,507.66 crore to Rs7,16,373.13 crore and that of HDFC dived Rs22,977.51 crore to Rs3,72,442.63 crore.
ICICI Bank's mcap declined by Rs22,203.69 crore to Rs4,78,540.58 crore and that of Hindustan Unilever (HUL) went lower by Rs20,535.43 crore to Rs4,96,351.15 crore.
The mcap of State Bank of India (SBI) dipped by Rs18,563.19 crore to Rs3,93,575.37 crore and that of Bharti Airtel fell by Rs16,009.26 crore to Rs3,53,604.18 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.
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