In an equities slump during the holiday-shortened last week, as many as eight of the top ten most valued Indian listed companies lost a cumulative ₹1,65,180.04 crore from market valuation, PTI reported.
Among the top 10, banking sector majors HDFC Bank and State Bank of India (SBI) took the biggest hits.
Overall, Reliance Industries (RIL) remained the most valued domestic firm, followed by Tata Consultancy Services (TCS), HDFC Bank, ICICI Bank, Bharti Airtel, Infosys, SBI, ITC, the Life Insurance Corporation of India (LIC) and Hindustan Unilever (HUL), it added.
Last week, BSE benchmark Sensex fell by 1,906.01 or 2.39 per cent. Equity markets were closed on Friday (November 1) on account of Guru Nanak Jayanti.
“Mounting concerns over rising CPI inflation and persistent disappointments in corporate earnings weighed heavily on sentiment,” Ajit Mishra – SVP, Research, Religare Broking told PTI.
The biggest laggard was banking sector major HDFC Bank, which tanked by ₹46,729.51 crore to ₹12,94,025.23 crore. Followed by fellow public sector behemoth SBI, which saw its market valuation eroded by ₹34,984.51 crore to ₹7,17,584.07 crore.
HUL also slumped ₹27,830.91 crore to ₹5,61,329.10 crore, and RIL declined by ₹22,057.77 crore to ₹17,15,498.91 crore. Further, the m-cap of ITC dived ₹15,449.47 crore to ₹5,82,764.02 crore, and Bharti Airtel tumbled ₹11,215.87 crore to ₹8,82,808.73 crore.
Insurance industry titan LIC also dropped ₹4,079.62 crore to ₹5,74,499.54 crore, and ICICI Bank slipped by ₹2,832.38 crore to ₹8,85,599.68 crore.
Among the few gainers, Infosys saw its valuation climb ₹13,681.37 crore to ₹7,73,962.50 crore. And TCS added ₹416.08 crore in market cap to ₹15,00,113.36 crore.
(With inputs from PTI)
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