Market Sell-Off Pushes Three of Top-10 Firms To Lose Rs 1.22 lakh Core; Reliance Top Laggard

Three of top-10 firms lose Rs 1.22 lakh crore in mcap; RIL top drag

New Delhi:

The combined market valuation of three of the 10 most valued domestic firms fell by Rs 1,22,852.25 crore last week, with Reliance Industries emerging as the biggest laggard.

IT majors Tata Consultancy Services (TCS) and Infosys were the other two bluechips which faced erosion from their valuation.

In contrast, HDFC Bank, Hindustan Unilever, ICICI Bank, State Bank of India, HDFC, Bajaj Finance and Adani Transmission were the gainers. Their combined gain was Rs 62,221.63 crore.

During the holiday-shortened week, the BSE benchmark Sensex dipped 30.54 points or 0.05 per cent.

The market valuation of Reliance Industries fell by Rs 60,176.75 crore to reach Rs 17,11,468.58 crore.

The market capitalisation (mcap) of TCS declined by Rs 33,663.28 crore to Rs 11,45,155.01 crore and that of Infosys dipped by Rs 29,012.22 crore to Rs 6,11,339.35 crore.

From the gainers pack, HDFC Bank added Rs 12,653.69 crore, taking its valuation to Rs 8,26,605.74 crore.

The valuation of Adani Transmission, the latest entrant in the coveted list of the top-10 most valued firms, jumped Rs 12,494.32 crore to Rs 4,30,842.32 crore.

Adani Transmission entered the top-10 list on Tuesday (August 30).

The mcap of State Bank of India (SBI) climbed Rs 11,289.64 crore to Rs 4,78,760.80 crore and that of HDFC advanced Rs 9,408.48 crore to stand at Rs 4,44,052.84 crore.

The valuation of Bajaj Finance went higher by Rs 7,740.41 crore to Rs 4,35,346 crore and that of Hindustan Unilever climbed Rs 7,612.68 crore to Rs 6,11,692.59 crore.

ICICI Bank added Rs 1,022.41 crore, taking its valuation to Rs 6,07,352.52 crore.

In the ranking of top-10 firms, Reliance Industries retained its numero uno position, followed by TCS, HDFC Bank, Hindustan Unilever, Infosys, ICICI Bank, SBI, HDFC, Bajaj Finance and Adani Transmission.