Markets bounce back on Reliance Industries surge
New Delhi: The combined market valuation of the top-10 valued companies plunged Rs1,52,979.78 crore last week, with Reliance Industries and Tata Consultancy Services (TCS) taking the biggest hit in an overall weak trend in equities.
Last week, the BSE benchmark fell 885.12 points or 1.33 per cent. The market valuation of Reliance Industries plummeted Rs34,876.78 crore to Rs15,55,531.53 crore. The valuation of TCS plunged Rs27,827.08 crore to Rs12,78,564.03 crore. Hindustan Unilever’s market valuation eroded by Rs18,103.6 crore to Rs5,86,223.02 crore and that of Bajaj Finance fell by Rs17,171.75 crore to Rs4,70,574.90 crore.
The market capitalisation (mcap) of ICICI Bank dived Rs13,518.4 crore to Rs6,53,120.67 crore and that of ITC dropped Rs12,533.27 crore to Rs5,46,537.83 crore. State Bank of India’s valuation declined by Rs11,512.75 crore to Rs5,02,678.77 crore and that of HDFC Bank fell by Rs10,387.09 crore to Rs11,54,748.49 crore. The mcap of Bharti Airtel slipped Rs5,139.88 crore to Rs5,30,896.08 crore and that of Infosys dipped Rs1,909.18 crore to Rs5,92,342.82 crore. In the ranking of top 10 firms, Reliance Industries retained the title of the most valued firm followed by TCS, HDFC Bank, ICICI Bank, Infosys, Hindustan Unilever, ITC, Bharti Airtel, State Bank of India and Bajaj Finance.
