Mcap of 7 of top-10 most valued firms declines by Rs 35,439 cr; SBI biggest laggard

The combined market valuation of seven of the top-10 most valued firms declined by Rs 35,439.36 crore in a holiday-shortened last week, with State Bank of India taking the biggest hit, in line with a muted trend in equities.

Last week, the BSE benchmark climbed 112.09 points or 0.13 per cent.

From the top-10 pack, Reliance Industries, Tata Consultancy Services (TCS), ICICI Bank, SBI, Bajaj Finance, Larsen & Toubro and Life Insurance Corporation of India (LIC) faced erosion from their valuation, while HDFC Bank, Bharti Airtel and Infosys were the winners.

The market valuation of State Bank of India tumbled Rs 12,692.1 crore to Rs 8,92,046.88 crore.

Reliance Industries’ valuation dropped by Rs 8,254.81 crore to Rs 21,09,712.48 crore.

Bajaj Finance faced an erosion of Rs 5,102.43 crore to take its market valuation to Rs 6,22,124.01 crore.

The market capitalisation (mcap) of Larsen & Toubro declined by Rs 4,002.94 crore to Rs 5,56,436.22 crore and that of ICICI Bank edged lower by Rs 2,571.39 crore to Rs 9,65,669.15 crore.The mcap of LIC diminished by Rs 1,802.62 crore to Rs 5,37,403.43 crore and that of TCS dipped by Rs 1,013.07 crore to Rs 11,86,660.34 crore.

However, the valuation of HDFC Bank jumped Rs 10,126.81 crore to Rs 15,26,765.44 crore.

The mcap of Infosys surged Rs 6,626.62 crore to Rs 6,87,818.84 crore and that of Bharti Airtel climbed Rs 5,359.98 crore to Rs 12,00,692.32 crore.

Reliance Industries remained the most valued firm, followed by HDFC Bank, Bharti Airtel, TCS, ICICI Bank, State Bank of India, Infosys, Bajaj Finance, Larsen & Toubro and LIC.