Nine of the top-10 most valued firms together lost a whopping Rs 2,09,952.26 crore from market valuation last week, in line with weak trends in equities, with Hindustan Unilever and Reliance Industries Limited taking the biggest hit.
Last week, the BSE benchmark tanked 1,822.46 points or 2.24 per cent.
“The dismal Q2 earnings so far have aggravated the investors’ woes while persistent FII selling continued to create havoc in the market,” said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.
From the top-10 pack, HDFC Bank emerged as the only winner.
The market valuation of Hindustan Unilever eroded by Rs 44,195.81 crore to Rs 5,93,870.94 crore.
Reliance Industries’ valuation tumbled Rs 41,994.54 crore to Rs 17,96,726.60 crore.
State Bank of India’s market valuation plummeted by Rs 35,117.72 crore to Rs 6,96,655.84 crore, and that of Bharti Airtel tanked by Rs 24,108.72 crore to Rs 9,47,598.89 crore.
The market capitalisation (mcap) of Tata Consultancy Services (TCS) dr
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