The stock market volatility continued last week with the top 10 most-valued firms witnessing a major erosion in their market cap. India’s tech giant TCS took the biggest hit as bearish trends continued with the BSE benchmark losing 628.15 points, or 0.82 per cent, while the Nifty went lower 133.35 points or 0.58 per cent in the previous week.
Top 10 Firms See Rs 1.65 Lakh Crore Market Cap Erosion, Reliance Gains
The combined market valuation of eight of the top 10 most valued firms declined by Rs 1,65,784.9 crore last week, with TCS taking the biggest hit. TCS lost Rs 53,185.89 crore, bringing its market cap down to Rs 13,69,717.48 crore. Bharti Airtel’s valuation dropped by Rs 44,407.77 crore to Rs 9,34,223.77 crore, while ICICI Bank and Hindustan Unilever saw declines of Rs 18,235.45 crore and Rs 17,962.62 crore, respectively.
Infosys shed Rs 17,086.61 crore, ITC lost Rs 11,949.42 crore, and HDFC Bank’s valuation dipped by Rs 2,555.53 crore. State Bank of India also saw a marginal decline of Rs 401.61 crore.
Infosys shed Rs 17,086.61 crore, ITC lost Rs 11,949.42 crore, and HDFC Bank’s valuation dipped by Rs 2,555.53 crore. State Bank of India also saw a marginal decline of Rs 401.61 crore.
However, Reliance Industries bucked the trend, adding Rs 14,547.3 crore to reach Rs 16,61,369.42 crore in market cap, while Bajaj Finance gained Rs 384.33 crore, bringing its valuation to Rs 5,20,466.75 crore.
