Mumbai, June 7 (SocialNews.XYZ) The combined market valuation of seven of the country’s top-10 most valued companies declined by Rs 1.25 lakh crore last week.
During the same period, the Sensex fell 532.4 points, or 0.71 per cent, while the Nifty slipped 181.05 points, or 0.76 per cent.
Among the major laggards, Reliance Industries Limited saw the sharpest erosion, with its market capitalisation falling by Rs 39,718 crore to Rs 17,47,321.40 crore.
The stock continued to remain the most valued listed company in the country despite the decline.
Tata Consultancy Services also witnessed a significant drop in valuation, losing Rs 20,134.66 crore to settle at Rs 7,95,346.09 crore.
Similarly, Bharti Airtel saw its market capitalisation decline by Rs 18,736.04 crore, bringing it down to Rs 10,96,150.49 crore.
Infrastructure major Larsen & Toubro also faced pressure, with its valuation slipping Rs 16,880.2 crore to Rs 5,43,956.44 crore.
Insurance giant Life Insurance Corporation of India lost Rs 14,610.74 crore, taking its market value down to Rs 5,05,873.32 crore.
In the financial sector, Bajaj Finance saw a decline of Rs 9,681.36 crore, while Hindustan Unilever Limited lost Rs 5,909.23 crore in market capitalisation over the week.
However, a few large-cap banking stocks provided some support to the market. State Bank of India gained Rs 12,692.09 crore in valuation, rising to Rs 9,02,523.63 crore.
ICICI Bank added Rs 4,484.86 crore to its market capitalisation, while HDFC Bank climbed Rs 4,101.47 crore, taking its valuation to Rs 11,50,743.31 crore.
Despite the mixed performance, Reliance Industries retained its position as the most valued domestic company, followed by HDFC Bank, Bharti Airtel, ICICI Bank, State Bank of India, Tata Consultancy Services, Bajaj Finance, Larsen & Toubro, LIC and Hindustan Unilever among the top-10 firms by market capitalisation.
Source: IANS
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