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Top-10 most valued firms lose over Rs 2.53 lakh crore in m-cap

Top-10 most valued firms lose over Rs 2.53 lakh crore in m-cap

Benchmark indices witnessed around a 4 per cent cut last week as Foreign Portfolio Investors (FPIs) booked profits across large-caps and select mid-caps.

The combined m-cap of the country's top-10 companies eroded by Rs 2,53,394.63 crore during last week, mirroring the dull trend in the broader market. The combined m-cap of the country's top-10 companies eroded by Rs 2,53,394.63 crore during last week, mirroring the dull trend in the broader market.

The market capitalisation (m-cap) of top-10 most valued companies eroded by over Rs 2.53 lakh crore last week, as the domestic equity benchmarks saw heavy selling in line with the market rout worldwide.

Benchmark indices witnessed around a 4 per cent cut last week as Foreign Portfolio Investors (FPIs) booked profits across large-caps and select mid-caps, PTI reported.

The Sensex lost 2,185.85 points or 3.57 per cent on a weekly basis, whereas the Nifty tumbled 638.60 points or 3.49 per cent. The combined m-cap of the country's top-10 companies eroded by Rs 2,53,394.63 crore during the last week, mirroring the dull trend in the broader market.

Also Read: M-cap of 8 of top-10 cos jumps over 2.34 lakh cr; RIL, Infosys, TCS top gainers

Corporate major Reliance Industries' m-cap fell by Rs 40,974.25 crore to Rs 16,76,291.69 crore.

IT bellwethers TCS and Infosys together lost Rs 1,09,498.10 crore from their cumulative market cap. The m-cap of TCS stood at Rs 14,18,530.72 crore, while that of Infosys was at Rs 7,51,144.40 crore.

The country's top lenders HDFC Bank, ICICI Bank and SBI saw a cumulative erosion of Rs 29,239.04 crore in their market capitalisation.

HDFC Bank's valuation dipped by Rs 13,563.15 crore to Rs 8,42,876.13 crore.

The m-cap of State Bank of India (SBI) tanked by Rs 4,863.91 crore to Rs 4,48,729.47 crore and that of ICICI Bank slumped by Rs 10,811.98 crore to reach Rs 5,58,699.39 crore.

Also Read: Eight of top-10 most valued firms add over Rs 2.50 lakh cr in m-cap

The valuation of Hindustan Unilever Ltd (HUL) tanked by Rs 9,938.77 crore to Rs 5,45,622.08 crore and that of Bajaj Finance declined by Rs 27,653.67 crore to Rs 4,45,033.13 crore.

HDFC's valuation slipped by Rs 22,003.75 crore to Rs 4,69,422.38 crore

Telecom major Bharti airtel also witnessed a dip of Rs 14,087.05 crore from its market valuation which stood at Rs 3,81,723.36 crore.

In the ranking of top-10 firms, Reliance Industries was leading the chart, followed by Tata Consultancy Services, HDFC Bank, Infosys, ICICI Bank, Hindustan Unilever, HDFC, State Bank of India, Bajaj Finance and Bharti Airtel.