Market valuation of 7 of top 10 most valued firms falls by Rs 77,434.98 Cr; ITC, HDFC Bank major laggards

The combined market valuation of seven of the top-10 most valued firms fell by Rs 77,434.98 crore last week, with ITC and HDFC Bank taking the biggest hit, in line with a muted trend in equities. The BSE benchmark fell by 524.06 points or 0.78%.

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 Rs 26,192.05 crore to Rs 5,83,732.19 crore.

HDFC Bank's MCap declined by Rs 22,747.89 crore to Rs 12,40,322.63 crore and that of Bajaj Finance plunged Rs 12,127.47 crore to Rs 4,47,298.52 crore.

The market valuation of Reliance Industries tumbled Rs 5,818.43 crore to Rs 17,10,076.74 crore and that of TCS went lower by Rs 5,214.15 crore to Rs 12,27,739.80 crore.

Hindustan Unilever's valuation eroded by Rs 4,417.23 crore to Rs 6,07,369.34 crore and that of ICICI Bank dipped by Rs 917.76 crore to Rs 6,96,495.74 crore.

However, the MCap of Bharti Airtel jumped Rs 5,643.3 crore to Rs 5,00,369.30 crore, and that of Infosys climbed Rs 4,129.44 crore to Rs 5,56,271.03 crore.

The valuation of the State Bank of India gained Rs 981.71 crore to Rs 5,49,800.72 crore.

In the ranking of top-10 companies, Reliance Industries retained the title of the most valued firm followed by HDFC Bank, TCS, ICICI Bank, Hindustan Unilever, ITC, Infosys, State Bank of India, Bharti Airtel, and Bajaj Finance.