Finance
Last week, nine of the ten most valuable companies saw their market valuations fall by a total of Rs 1,87,808.26 crore, with HDFC Bank and Reliance Industries taking the biggest hit amid an overall weak trend in equities.
Last week, the BSE benchmark fell 1,538.64 points, or 2.52%, on fears that the US Federal Reserve would raise interest rates further to combat inflation. Fresh outflows of foreign funds have also dampened investor sentiment.
Except for ITC, all ten companies were laggards, including Tata Consultancy Services (TCS), Infosys, ICICI Bank, and Hindustan Unilever.
At Friday’s close, HDFC Bank’s valuation had dropped by Rs 37,848.16 crore to Rs 8,86,070.99 crore.
Reliance Industries’ market capitalization fell by Rs 36,567.46 crore to Rs 16,14,109.66 crore.
TCS’s valuation fell by Rs 36,444.15 crore to Rs 12,44,095.76 crore, while HDFC’s fell by Rs 20,871.15 crore to Rs 4,71,365.94 crore.
ICICI Bank’s market capitalisation (mcap) fell by Rs 15,765.56 crore to Rs 5,86,154.58 crore, while Infosys’ fell by Rs 13,465.86 crore to Rs 6,52,862.70 crore.
Bharti Airtel’s market capitalization fell by Rs 10,729.2 crore to Rs 4,22,034.05 crore, while State Bank of India’s fell by Rs 8,879.98 crore to Rs 4,64,927.66 crore.
Hindustan Unilever’s valuation has dropped by Rs 7,236.74 crore to Rs 5,83,697.21 crore.
ITC, on the other hand, added Rs 2,143.73 crore, bringing its mcap to Rs 4,77,910.85 crore.
Reliance Industries remained the most valuable company, followed by TCS, HDFC Bank, Infosys, ICICI Bank, Hindustan Unilever, ITC, HDFC, State Bank of India and Bharti Airtel.
Source:BS
