Market valuation of 5 of top 10 firms tanks Rs 2.23 lakh Cr; Reliance, LIC biggest laggards

Five of the top 10 valued firms faced a combined erosion of Rs 2,23,660 crore from their market valuation last week, with Reliance Industries and Life Insurance Corporation of India taking the steepest hit amid an overall bearish trend in equities.

Last week, the BSE benchmark tanked 1,475.96 points or 1.99%.

While Reliance Industries, ICICI Bank, State Bank of India, Life Insurance Corporation of India (LIC) and Hindustan Unileversuffered erosion from their market capitalisation (mcap), Tata Consultancy Services (TCS), HDFC Bank, Bharti Airtel, Infosys, and ITC Limited were the gainers.

The mcap of Reliance Industries tanked Rs 81,763.35 crore to Rs 19,19,595.15 crore, the most among the top-10 firms.

LIC's market valuation tumbled Rs 63,629.48 crore to Rs 5,84,967.41 crore and that of State Bank of India plummeted by Rs 50,111.7 crore to Rs 6,53,281.59 crore.

The mcap of Hindustan Unilever dropped by Rs 21,792.46 crore to Rs 5,46,961.35 crore and that of ICICI Bank dived Rs 6,363.11 crore to Rs 7,57,218.19 crore.

However, the market valuation of TCS jumped Rs 38,858.26 crore to Rs 15,25,928.41 crore.

Bharti Airtel added Rs 11,976.74 crore to its mcap at Rs 6,89,425.18 crore.

The valuation of ITC climbed Rs 7,738.51 crore to Rs 5,23,660.08 crore and that of Infosys went up by Rs 7,450.22 crore to Rs 6,78,571.56 crore.

HDFC Bank's mcap surged Rs 4,443.9 crore to Rs 11,03,151.78 crore.

Reliance Industries continued to rule the chart of the most valued firms followed by TCS, HDFC Bank, ICICI Bank, Bharti Airtel, Infosys, State Bank of India, LIC, Hindustan Unilever and ITC.