Top 10 most valuable companies have lost nearly Rs 2.29 lakh crore in market capitalisation
The Sensex fell 1,465.79 points, or 2.63 percent, while the Nifty fell 382.50 points, or 2.31 percent, as investors fled to safer assets as inflation fears arose from rising crude oil prices.
Last week, the top ten most valuable firms’ market capitalisation (m-cap) fell by almost Rs 2.29 lakh crore, with Life Insurance Corporation taking the greatest impact.
Domestic equities indexes saw strong selling on a weekly basis. The Sensex fell 1,465.79 points, or 2.63 percent, while the Nifty fell 382.50 points, or 2.31 percent, as investors fled to safer assets as inflation fears arose from rising crude oil prices.
Reliance Industries’ market capitalization declined by Rs 44,311.19 crore to Rs 18,36,039.28 crore.
TCS and Infosys, two IT behemoths, saw their combined market capitalization drop by Rs 45,746.13 crore. TCS was valued at Rs 12,31,398.85 crore, while Infosys was valued at Rs 6,21,502.63 crore.
The market value of the country’s three lenders, HDFC Bank, ICICI Bank, and SBI, fell by Rs 34,970.26 crore. The value of HDFC Bank has dropped by Rs 16,433.92 crore to Rs 7,49,880.79 crore.
State Bank of India (SBImarket )’s capitalization fell by Rs 2,231.15 crore to Rs 4,12,138.56 crore, while ICICI Bank’s fell by Rs 16,305.19 crore to Rs 5,00,744.27 crore.
Hindustan Unilever Ltd (HUL) was valued at Rs 5,16,886.58 crore, down Rs 21,674.98 crore, while Life Insurance Corporation (LIC) was valued at Rs 4,48,885.09 crore, down Rs 57,272.85 crore. The value of HDFC has decreased by Rs 17,879.22 crore to Rs 3,95,420.14 crore.
Bharti Airtel’s market value has also dropped by Rs 7,359.31 crore from its previous high of Rs 3,69,613.44 crore.
Reliance Industries remained the most valuable company in the top-10 list, followed by TCS, HDFC Bank, Infosys, HUL, ICICI Bank, LIC, SBI, HDFC, and Bharti Airtel.