Mcap Of Top 10 Valued Firms Eroded By INR 1.68 lakh crore: Report

Reliance Industries retained the title of the most valued firm in the ranking of top-10 companies

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The combined market valuation of the top 10 valued firms eroded by INR 1,68,552.42 crore last week, with Reliance Industries taking the biggest hit in an overall weak broader market. Last week, the Sensex tumbled 1,492.52 points or 2.43 per cent. Market sentiment remained weak amid surging Covid cases in China and a few other nations, while stronger US growth data cemented expectations of the Federal Reserve continuing with its hawkish stance, according to a PTI report.

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The report stated that Reliance Industries' valuation tanked INR 42,994.44 crore to INR 16,92,411.37 crore. State Bank of India's market valuation tumbled INR 26,193.74 crore to INR 5,12,228.09 crore. Similarly, the market capitalisation of ICICI Bank diminished by INR 16,014.14 crore to INR 6,13,366.40 crore and that of Hindustan Unilever declined by INR 11,877.18 crore to INR 6,15,557.67 crore.

Bharti Airtel's mcap declined by INR 7,457.25 crore to INR 4,49,868.21 crore and that of Tata Consultancy Services (TCS) dipped INR 3,951.78 crore to INR 11,80,885.65 crore, the report revealed.

According to the report, Reliance Industries retained the title of the most valued firm in the ranking of top-10 companies, followed by TCS, HDFC Bank, Infosys, Hindustan Unilever, ICICI Bank, State Bank of India, HDFC, Bharti Airtel and LIC.