Market cap of India's top 9 firms down ₹2.74L crore
What's the story
The Indian equity market witnessed a rough week, with nine out of the top 10 companies losing their market value. Together they lost ₹2.74 lakh crore. HDFC Bank was the worst hit, losing over ₹1 lakh crore in market capitalization. Reliance Industries also saw a major dip in its market cap. Hindustan Unilever was the only exception to this bearish trend among the top firms, gaining some value during this period.
Major losses
HDFC Bank, Reliance Industries worst hit last week
HDFC Bank's market valuation plunged by ₹1,18,383.91 crore to ₹11,43,985.90 crore last week. This was after its shares fell 9.40% amid margin concerns. Reliance Industries also took a hit with its valuation eroding by ₹65,429.82 crore to ₹17,29,661.44 crore during the same period.
Valuation impact
SBI, LIC among other top firms that lost market cap
Other top firms that witnessed a fall in their market capitalization include the State Bank of India (SBI), Bajaj Finance, Life Insurance Corporation of India (LIC), and Larsen & Toubro.
SBI's valuation tanked by ₹26,814.94 crore to ₹9,36,953.84 crore, while Bajaj Finance's dropped by ₹26,802.74 crore to ₹6,30,471.54 crore during the same period last week.
Exception to trend
Hindustan Unilever bucks trend amid equity rout last week
Despite the overall downturn in the Indian equity markets, Hindustan Unilever's market capitalization managed to rise. It climbed by ₹152.73 crore to touch ₹5,03,928.59 crore during this period last week.