Mcap of 7 most-valued firms erodes by Rs 65,656 cr; RIL biggest laggard
The combined market valuation of seven of the top-10 most-valued firms eroded by Rs 65,656.36 crore last week, with Reliance Industries taking the biggest hit, amid a muted trend in domestic equities.
Last week, the BSE benchmark gained 45.42 points or 0.07 per cent, and the Nifty climbed 34.75 points or 0.18 per cent.
While Reliance Industries, Tata Consultancy Services (TCS), HDFC Bank, ICICI Bank, ITC, Infosys and HDFC were the laggards, Hindustan Unilever, State Bank of India and Bharti Airtel witnessed addition in their market valuations.
The market valuation of Reliance Industries eroded by Rs 34,910.54 crore to Rs 16,60,923.11 crore.
ICICI Bank's valuation tumbled Rs 9,355.65 crore to Rs 6,55,197.93 crore and that of Infosys fell by Rs 7,739.51 crore to Rs 5,38,923.48 crore.
The market capitalisation (mcap) of TCS declined by Rs 7,684.01 crore to Rs 12,10,414.19 crore and that of HDFC Bank dived Rs 5,020.13 crore to Rs 8,97,722.23 crore.
ITC's valuation dipped Rs 621.4 cro