Market cap of 5 firms drops ₹2.23 lakh crore last week. How did Reliance Industries, LIC fare?

Reliance Industries and Life Insurance Corporation of India (LIC) took a massive hit among five of the top 10 valued firms that faced a combined erosion of ₹ 2,23,600 crore from their market valuation last week.

Last week, the Bombay Stock Exchange (BSE) benchmark Sensex had crashed 1,475.96 points or 1.99 per cent. Besides Reliance Industries and LIC, the other companies that saw erosion from the market cap inclouded ICICI Bank, State Bank of India and Hindustan Unilever, PTI reported.

ITC, Bharti Airtel, Tata Consultancy Services (TCS), HDFC Bank and Infosys were the gainers last week. As per the PTI report, Reliance Industries’ market cap tanked ₹81,763.35 crore to ₹19,19,595.15 crore, the highest among the top-10 firms.

India’s largest insurer LIC’s market value tanked by ₹63,629.48 crore to ₹5,84,967.41 crore and that of SBI plummeted by ₹50,111.7 crore to ₹6,53,281.59 crore.

While the m-cap of Hindustan Unilever dropped by ₹21,792.46 crore to ₹5,46,961.35 crore, ICICI Bank saw its market cap erode by ₹6,363.11 crore to ₹7,57,218.19 crore.

The market valuation of TCS jumped ₹38,858.26 crore to ₹15,25,928.41 crore. Bharti Airtel added ₹11,976.74 crore to its mcap at ₹6,89,425.18 crore.

The valuation of ITC climbed ₹7,738.51 crore to ₹5,23,660.08 crore and that of Infosys went up by ₹7,450.22 crore to ₹6,78,571.56 crore.

HDFC Bank’s mcap surged ₹4,443.9 crore to ₹11,03,151.78 crore.

Reliance Industries continued to rule the chart of the most valued firms followed by TCS, HDFC Bank, ICICI Bank, Bharti Airtel, Infosys, State Bank of India, LIC, Hindustan Unilever and ITC.

Last Friday, Sensex and Nifty dropped over half a per cent, tracking deep losses in oil and gas, auto and energy stocks amid relentless foreign capital outflows.

The 30-share BSE Sensex declined 453.85 points or 0.62 per cent to settle at 72,643.43 after a weak beginning. During the day, the benchmark tanked 612.46 points or 0.83 per cent to 72,484.82.

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