The combined market capitalisation of eight of India’s 10 most-valued companies fell by Rs 79,129.21 crore last week, with Bajaj Finance and ICICI Bank taking the sharpest hit amid a broadly weak trend in equities, PTI reported. The BSE benchmark dropped 444.71 points, or 0.51%, during the week. Among the top-10 pack, only Reliance Industries and Larsen & Toubro managed gains, while HDFC Bank, Bharti Airtel, Tata Consultancy Services, ICICI Bank, State Bank of India, Infosys, Bajaj Finance and Life Insurance Corporation of India saw erosion in their valuations. Bajaj Finance’s mcap plunged Rs 19,289.7 crore to Rs 6,33,106.69 crore, making it the biggest loser. ICICI Bank followed with a decline of Rs 18,516.31 crore, taking its valuation to Rs 9,76,668.15 crore. Bharti Airtel’s valuation fell Rs 13,884.63 crore to Rs 11,87,948.11 crore, while State Bank of India shed Rs 7,846.02 crore to settle at Rs 8,88,816.17 crore. Infosys lost Rs 7,145.95 crore, bringing its market value to Rs 6,64,220.58 crore. TCS saw its mcap slip Rs 6,783.92 crore to Rs 11,65,078.45 crore, and HDFC Bank’s valuation declined Rs 4,460.93 crore to Rs 15,38,558.71 crore. LIC, meanwhile, recorded a marginal erosion of Rs 1,201.75 crore, taking its valuation to Rs 5,48,820.05 crore. In contrast, Reliance Industries added Rs 20,434.03 crore to reach Rs 21,05,652.74 crore, while Larsen & Toubro gained Rs 4,910.82 crore to stand at Rs 5,60,370.38 crore. Reliance Industries remained India’s most valuable company, followed by HDFC Bank, Bharti Airtel, TCS, ICICI Bank, State Bank of India, Infosys, Bajaj Finance, Larsen & Toubro and LIC.
Top market movers: Eight of top-10 firms lose Rs 79,129 crore in value; Bajaj Finance, ICICI Bank lead weekly drag
