Eight of the 10 most valued domestic companies suffered a combined erosion of Rs 89,535 crore in market valuation last week, with State Bank of India (SBI) taking the steepest hit. SBI's valuation plummeted Rs 30,388 crore to Rs 2,75,279.64 crore
The market cap of Reliance Industries (RIL) tumbled Rs 18,952.5 crore to Rs 7,50,674.86 crore and that of HDFC Bank plunged Rs 16,774.8 crore to Rs 6,05,627.15 crore. The m-cap of HDFC dropped Rs 7,660.34 crore to Rs 3,66,471.19 crore and that of ITC declined Rs 6,995.81 crore to Rs 3,24,753.23 crore.
HDFC Bank, HDFC, Infosys, Kotak Mahindra Bank, and ICICI Bank were the other companies that witnessed a drop in their market capitalisation (m-cap) for the week ended on August 2, while Tata Consultancy Services (TCS) and Hindustan Unilever Limited (HUL) were the only firms which finished with gains.
The market valuation of Infosys tanked Rs 5,111.1 crore to reach Rs 3,33,037.59 crore and that of ICICI Bank plunged Rs 3,003.03 crore to Rs 2,65,122.36 crore. The valuation of Kotak Mahindra Bank fell by Rs 649.22 crore to Rs 2,87,873.18 crore.
On the other hand, the m-cap of TCS jumped Rs 36,491.94 crore to Rs 8,27,794.83 crore and that of HUL zoomed Rs 1,493.71 crore to Rs 3,76,145 crore.
During the last week, the BSE Sensex declined 764.57 points or 2.01 per cent
(With PTI inputs)
Edited by Mansi Jaswal