Global stocks advance as traders await Fed conference
New Delhi: The combined market valuation of seven of the top-10 most valued firms fell by Rs77,434.98 crore last week, with ITC and HDFC Bank taking the biggest hit, in-line with a muted trend in equities.
Last week, the BSE benchmark fell by 524.06 points or 0.78 per cent. While Reliance Industries, HDFC Bank, Tata Consultancy Services (TCS), ICICI Bank, Hindustan Unilever, ITC and Bajaj Finance Limited were the main laggards in the top-10 pack, Infosys, State Bank of India and Bharti Airtel made gains in their market capitalisation (mcap). The valuation of ITC fell by Rs26,192.05 crore to Rs5,83,732.19 crore. HDFC Bank’s mcap declined by Rs22,747.89 crore to Rs12,40,322.63 crore and that of Bajaj Finance plunged Rs12,127.47 crore to Rs4,47,298.52 crore. The market valuation of Reliance Industries tumbled Rs5,818.43 crore to Rs17,10,076.74 crore and that of TCS went lower by Rs5,214.15 crore to Rs12,27,739.80 crore.
