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Market recap: Valuation of 6 of top 10 firms declines by Rs 68,417 cr; Airtel biggest laggard

Market recap: Valuation of 6 of top 10 firms declines by Rs 68,417 cr; Airtel biggest laggard
The combined market valuation of six of the top-10 most valued firms declined by Rs 68,417.14 crore in a holiday-shortened last week, with Bharti Airtel and Reliance Industries taking the biggest hit. While Reliance Industries, Bharti Airtel, Life Insurance Corporation of India (LIC), Infosys, ITC and Hindustan Unilever were the laggards, Tata Consultancy Services (TCS), HDFC Bank, ICICI Bank and State Bank of India emerged as the gainers.

Last week, the BSE benchmark climbed 147.99 points or 0.20 per cent. Domestic equity markets were closed on Wednesday on account of Maharashtra Day.

The market capitalisation (mcap) of Bharti Airtel fell by Rs 27,635.65 crore to Rs 7,23,770.70 crore. The valuation of Reliance Industries declined by Rs 23,341.56 crore to Rs 19,40,738.40 crore. The mcap of LIC dropped by Rs 5,724.13 crore to Rs 6,19,217.27 crore, and that of Infosys went lower by Rs 5,686.69 crore to Rs 5,87,949.62 crore.

ITC's valuation eroded by Rs 4,619.35 crore to Rs 5,44,645.97 crore, and that of Hindustan Unilever dipped by Rs 1,409.76 crore to Rs 5,20,551.94 crore.

However, the mcap of State Bank of India climbed Rs 26,907.71 crore to Rs 7,42,126.11 crore. ICICI Bank added Rs 24,651.55 crore, taking its valuation to Rs 8,02,401.77 crore.

The mcap of TCS rallied Rs 9,587.93 crore to Rs 13,89,110.43 crore, and that of HDFC Bank went up by Rs 6,761.25 crore to Rs 11,53,704.84 crore.

Reliance Industries remained the most valued firm from the top-10 pack, followed by TCS, HDFC Bank, ICICI Bank, State Bank of India, Bharti Airtel, LIC, Infosys, ITC and Hindustan Unilever.

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