Market crash: Top 10 firms lose ₹3.91 lakh crore in market capitalisation; TCS, Reliance Industries biggest laggards

The market valuation of the top-10 most valued firms plunged by a whopping ₹3.91 lakh crore last week, in tandem with a steep sell-off in equities, with TCS and and Reliance Industries taking the biggest hit.

Past week, the BSE Sensex plunged 2,943.02 points or 5.42%, while the NSE Nifty declined 908.30 points or 5.61%.

Markets have been extremely bearish of late amid rate hikes by global central banks, unrelenting foreign fund outflows and jump in crude oil prices.

The market valuation of the 10 most valued domestic firms eroded by ₹3,91,620.01 crore last week.

From the top-10 firms, Tata Consultancy Services (TCS) was the top loser, as its market valuation tumbled ₹1,01,026.4 crore to stand at ₹1,30,372.45 crore.

The market capitalisation (mcap) of Reliance Industries Ltd (RIL) tanked ₹84,352.76 crore to reach ₹17,51,686.52 crore.

The valuation of Infosys eroded by ₹37,656.62 crore to ₹5,83,846.01 crore and that of Life Insurance Corporation (LIC) plunged by ₹34,787.49 crore to ₹4,14,097.60 crore.

HDFC Bank’s market valuation fell by ₹33,507.66 crore to ₹7,16,373.13 crore and that of HDFC dived ₹22,977.51 crore to ₹3,72,442.63 crore.

ICICI Bank’s m-cap declined by ₹22,203.69 crore to ₹4,78,540.58 crore and that of Hindustan Unilever (HUL) went lower by ₹20,535.43 crore to ₹4,96,351.15 crore.

The m-cap of State Bank of India (SBI) dipped by ₹18,563.19 crore to ₹3,93,575.37 crore and that of Bharti Airtel fell by ₹16,009.26 crore to ₹3,53,604.18 crore.

In the ranking of top-10 firms, Reliance Industries continued to remain the most valued company, followed by TCS, HDFC Bank, Infosys, HUL, ICICI Bank, LIC, SBI, HDFC and Bharti Airtel.