Market capitalisation of six most valued firms plunge by Rs 71,414 Cr
In the ranking of the top 10 most valued firms, Reliance Industries continued to dominate the chart, followed by TCS, HDFC Bank, ICICI Bank, Infosys, SBI, LIC, Bharti Airtel, Hindustan Unilever, and ITC.
The combined market valuation of six of the top 10 most valued firms eroded by Rs 71,414 crore last week, with state-owned company Life Insurance Corporation of India (LIC) emerging as the biggest laggard.
Of the top 10 most valued firms, LIC, Tata Consultancy Services (TCS), ITC, Hindustan Unilever, Bharti Airtel and Reliance Industries faced a total erosion of Rs 71,414.03 crore.
On the other hand, State Bank of India, Infosys, HDFC Bank, and ICICI Bank emerged as the gainers and collectively added Rs 62,038.86 crore.
However, in the last week, the BSE benchmark climbed 831.15 points or 1.16%.
The market valuation of state-owned insurer LIC fell by Rs 26,217.12 crore to Rs 6,57,420.26 crore. TCS's market valuation tumbled by Rs 18,762.61 crore to Rs 14,93,980.70 crore.
The market capitalisation of ITC eroded by Rs 13,539.84 crore to Rs 5,05,092.18 crore, while that of Hindustan Unilever diminished by Rs 11,548.24 crore to Rs 5,58,039.67 crore.
The market valuation of Bharti Airtel declined Rs 703.60 crore to Rs 6,30,340.9 crore, and that of Reliance Industries dipped by Rs 642.62 crore to Rs 19,76,493.92 crore.
Billionaire Mukesh Ambani's Reliance Industries on Wednesday became the first Indian company to achieve a market capitalisation of Rs 20 lakh crore. The company's shares hit their 52-week high of Rs 2,968.40 apiece.
Reliance stock had briefly touched Rs 20 lakh crore market capitalisation on Tuesday, but it ended the day at Rs 19.93 lakh crore.
Edited by Suman Singh