Rs 88,635-cr mcap loss at top-7 cos

The combined market valuation of seven of the top-10 most valued firms eroded by Rs88,635.28 crore in a holiday-shortened last week, with Bharti Airtel and Tata Consultancy Services taking the biggest hit, in line with the weak trend in equities.

In a holiday-shortened last week, the BSE benchmark tanked 722.43 points or 0.86 per cent, and the Nifty declined by 229.8 points or 0.89 per cent. While Reliance Industries, HDFC Bank, Bharti Airtel, Tata Consultancy Services (TCS), ICICI Bank, Infosys and Hindustan Unilever faced erosion from their valuation, State Bank of India, Bajaj Finance and Life Insurance Corporation of India (LIC) were the gainers from the top-10 pack.

The market valuation of Bharti Airtel tumbled Rs30,506.26 crore to Rs11,41,048.30 crore. TCS faced an erosion of Rs23,680.38 crore from its valuation, which stood at Rs10,82,658.42 crore. The market capitalisation (mcap) of Hindustan Unilever dropped by Rs12,253.12 crore to Rs5,67,308.81 crore, and that of Reliance Industries declined by Rs11,164.29 crore to Rs20,00,437.77 crore.

HDFC Bank’s mcap dipped by Rs7,303.93 crore to Rs15,11,375.21 crore, and that of Infosys edged lower by Rs2,139.52 crore to Rs6,13,750.48 crore.

The valuation of ICICI Bank declined by Rs1,587.78 crore to Rs9,59,540.08 crore. However, the mcap of LIC climbed Rs 18,469 crore to Rs5,84,366.54 crore.