Finance
Last week, the market capitalisation (m-cap) of the top ten most valuable companies fell by over Rs 2.29 lakh crore, with Life Insurance Corporation taking the biggest hit.
Domestic equity benchmarks saw heavy selling on a weekly basis. The Sensex fell 1,465.79 points, or 2.63 percent, while the Nifty fell 382.50 points, or 2.31 percent, as investors sought safer assets as rising crude oil prices fueled inflation fears.
Reliance Industries’ m-cap dropped by Rs 44,311.19 crore to Rs 18,36,039.28 crore.
TCS and Infosys lost Rs 45,746.13 crore from their combined market capitalization. TCS was valued at Rs 12,31,398.85 crore, while Infosys was valued at Rs 6,21,502.63 crore.
The market capitalisation of the country’s top lenders, HDFC Bank, ICICI Bank, and SBI, fell by a total of Rs 34,970.26 crore.
The value of HDFC Bank has dropped by Rs 16,433.92 crore to Rs 7,49,880.79 crore.
State Bank of India’s (SBI) m-cap fell by Rs 2,231.15 crore to Rs 4,12,138.56 crore, while ICICI Bank’s fell by Rs 16,305.19 crore to Rs 5,00,744.27 crore.
HUL’s valuation fell by Rs 21,674.98 crore to Rs 5,16,886.58 crore, while Life Insurance Corporation (LIC) fell by Rs 57,272.85 crore to Rs 4,48,885.09 crore.
The value of HDFC has dropped by Rs 17,879.22 crore to Rs 3,95,420.14 crore.
Bharti Airtel also saw a Rs 7,359.31 crore drop in its market valuation, which stood at Rs 3,69,613.44 crore.
Reliance Industries was named the most valuable firm in the top ten, followed by TCS, HDFC Bank, Infosys, HUL, ICICI Bank, LIC, SBI, HDFC, and Bharti Airtel.
Source:BS
