Eight top companies see combined valuation slump by Rs 2.01 lakh crore amid global weakness in equities
Last week, the Sensex fell for the fourth straight session on September 7. The 30-stock index tanked 1,017 points or 1.24 percent to end at 81,184. Nifty lost 293 points to close at 24,852.
- Sep 8, 2024,
- Updated Sep 8, 2024 1:35 PM IST
The combined market valuation of eight of the top-10 most valued firms slumped by Rs 2,01,699.77 crore last week amid a weak global market with Reliance Industries (RIL) and Tata Consultancy Services (TCS) emerging as the biggest laggards.
Last week, the Sensex fell for the fourth straight session on September 7. The 30-stock index tanked 1,017 points or 1.24 percent to end at 81,184. Nifty lost 293 points to close at 24,852. Market cap of BSE-listed firms fell by Rs 5.31 lakh crore to Rs 460.37 lakh crore on Friday against Rs 465.68 lakh crore in the previous session.
The market valuation of oil-to-telecom conglomerate RIL tumbled Rs 60,824.68 crore to Rs 19,82,282.42 crore. The valuation of India’s largest IT company TCS slumped Rs 34,136.66 crore to Rs 16,12,762.51 crore.
The country’s largest public sector lender, State Bank of India, saw its valuation drop by Rs 29,495.84 crore to Rs 6,98,440.13 crore. The second largest telco player in the country, Bharti Airtel, lost Rs 28,379.54 crore and saw its m-cap settle at Rs 8,76,207.58 crore.
The market capitalisation of another IT bellwether Infosys tanked Rs 17,061.44 crore to end at Rs 7,89,819.06 crore. Life Insurance Corporation of India (LIC), the largest public life insurer, also saw its valuation fall by Rs 16,381.74 crore to Rs 6,57,009.14 crore.
ICICI Bank’s m-cap declined Rs 15,169.76 crore to Rs 8,51,204.65 crore, and ITC lost Rs 250.11 crore from its valuation to settle at Rs 6,27,337.65 crore.
However, Hindustan Unilever (HUL) bucked the trend and added Rs 14,179.78 crore taking its market valuation to Rs 6,66,919.73 crore. The country’s largest private sector lender, HDFC Bank, also saw its valuation climb by Rs 3,735.35 crore to Rs 12,47,941.78 crore.
Reliance Industries remained the most-valued domestic firm followed by TCS, HDFC Bank, Airtel, ICICI Bank, Infosys, State Bank of India, Hindustan Unilever, LIC and ITC.
The combined market valuation of eight of the top-10 most valued firms slumped by Rs 2,01,699.77 crore last week amid a weak global market with Reliance Industries (RIL) and Tata Consultancy Services (TCS) emerging as the biggest laggards.
Last week, the Sensex fell for the fourth straight session on September 7. The 30-stock index tanked 1,017 points or 1.24 percent to end at 81,184. Nifty lost 293 points to close at 24,852. Market cap of BSE-listed firms fell by Rs 5.31 lakh crore to Rs 460.37 lakh crore on Friday against Rs 465.68 lakh crore in the previous session.
The market valuation of oil-to-telecom conglomerate RIL tumbled Rs 60,824.68 crore to Rs 19,82,282.42 crore. The valuation of India’s largest IT company TCS slumped Rs 34,136.66 crore to Rs 16,12,762.51 crore.
The country’s largest public sector lender, State Bank of India, saw its valuation drop by Rs 29,495.84 crore to Rs 6,98,440.13 crore. The second largest telco player in the country, Bharti Airtel, lost Rs 28,379.54 crore and saw its m-cap settle at Rs 8,76,207.58 crore.
The market capitalisation of another IT bellwether Infosys tanked Rs 17,061.44 crore to end at Rs 7,89,819.06 crore. Life Insurance Corporation of India (LIC), the largest public life insurer, also saw its valuation fall by Rs 16,381.74 crore to Rs 6,57,009.14 crore.
ICICI Bank’s m-cap declined Rs 15,169.76 crore to Rs 8,51,204.65 crore, and ITC lost Rs 250.11 crore from its valuation to settle at Rs 6,27,337.65 crore.
However, Hindustan Unilever (HUL) bucked the trend and added Rs 14,179.78 crore taking its market valuation to Rs 6,66,919.73 crore. The country’s largest private sector lender, HDFC Bank, also saw its valuation climb by Rs 3,735.35 crore to Rs 12,47,941.78 crore.
Reliance Industries remained the most-valued domestic firm followed by TCS, HDFC Bank, Airtel, ICICI Bank, Infosys, State Bank of India, Hindustan Unilever, LIC and ITC.