India's top 6 firms lose ₹78,000cr in market cap
What's the story
The cumulative market valuation of six of the top 10 firms in India took a massive hit last week. The total loss stood at ₹78,166.08 crore.
The decline was mainly spearheaded by Reliance Industries, mirroring the trend in the equity market.
During the week, the BSE benchmark Sensex slipped by 609.51 points or 0.74%, while Nifty declined by 166.65 points or 0.66%.
Losses
Reliance Industries leads market cap loss
Reliance Industries witnessed the biggest loss in market valuation, losing ₹40,800.4 crore to settle at ₹19,30,339.56 crore.
Tata Consultancy Services (TCS) lost ₹17,710.54 crore in its valuation to settle at ₹12,71,395.95 crore.
Infosys lost ₹10,488.58 crore in its valuation to settle at ₹6,49,876.91 crore, while Hindustan Unilever's value fell by ₹5,462.8 crore to ₹5,53,974.88 crore during the period.
Others
ICICI Bank, SBI also see decline
ICICI Bank and State Bank of India also saw their mcap fall. ICICI Bank's value edged down by ₹2,454.31 crore to reach ₹10,33,868.01 crore, while SBI's valuation dipped by ₹1,249.45 crore to settle at ₹7,05,446.59 crore.
Gains
Bharti Airtel, Bajaj Finance, and ITC gain market cap
Despite the overall market downturn last week, a few firms managed to increase their valuations.
Bharti Airtel's mcap jumped by ₹10,121.24 crore to reach ₹10,44,682.72 crore, while Bajaj Finance's valuation surged by ₹4,548.87 crore to reach ₹5,74,207.54 crore.
ITC's valuation also increased by ₹875.99 crore to reach ₹5,45,991.05 crore during the period.