The combined market valuation of four of the top-10 most valued firms eroded by ₹87,960.29 crore last week, with Bharti Airtel taking the biggest hit, in-tandem with a bearish trend in equities.
"Indian equity markets ended the week on a cautious note, extending their recent corrective phase as elevated crude oil prices, rising global bond yields and persistent geopolitical uncertainty weighed on investor sentiment," Ajit Mishra – SVP, Research, Religare Broking Ltd, said.
The valuation of Bharti Airtel dropped ₹28,052.96 crore to ₹12,14,963.15 crore, the most among the top-10 firms.
Tata Consultancy Services (TCS) faced an erosion of ₹22,070.34 crore from its valuation, which stood at ₹8,31,436.51 crore.
The market capitalisation (mcap) of the State Bank of India declined ₹20,861.2 crore to ₹9,64,968.76 crore and that of Hindustan Unilever fell ₹16,975.79 crore to ₹4,73,912.56 crore.
However, the valuation of Life Insurance Corporation of India (LIC) jumped Rs 12,650 crore to Rs 5,35,980.31 crore.
The mcap of Reliance Industries surged ₹8,119.53 crore to ₹17,78,175.59 crore, and that of Larsen & Toubro climbed ₹3,487.83 crore to ₹5,62,460.94 crore.
The market valuation of Bajaj Finance edged higher by ₹3,424.28 crore to ₹6,80,621.62 crore.
ICICI Bank added ₹752.47 crore taking its mcap to ₹10,18,330.45 crore.
The mcap of HDFC Bank went up ₹356.95 crore to ₹11,21,159.05 crore.
Reliance Industries remained the most valued firm, followed by Bharti Airtel, HDFC Bank, ICICI Bank, State Bank of India, TCS, Bajaj Finance, Larsen & Toubro, LIC and Hindustan Unilever.
