New Delhi: Nine among the top-10 best-valued companies lost a stupendous Rs 3,09,178.44 crore together in market valuation last week, and selloffs continue, PTI reported.
The 30-share Bombay Stock Exchange (BSE) Sensex crashed 1,836.95 points, a 3.11 per cent. This was during a week shortened by holidays as well as in the middle of geopolitical tensions and a global selloff sparked by an aggressive US Federal Reserve and severe foreign fund outflows.
The only gainer in the top 10 was the State Bank of India after its value surged Rs 18,340.07 crore to reach Rs 4,67,069.54 crore.
Those slipped down in valuation were Reliance Industries Limited (RIL), Tata Consultancy Services (TCS), HDFC Bank, Infosys, ICICI Bank, Hindustan Unilever Ltd (HUL), HDFC, Bajaj Finance and Bharti Airtel.
RIL sustained the biggest dip among the ten as its market valuation fell by Rs 96,512.22 crore to Rs 15,79,779.47 crore. TCS lost Rs 53,488.29 crore and reached Rs 13,65,042.43 crore from its valuation.
Infosys' market capitalization (mcap) slided Rs 42,392.63 crore to reach Rs 7,08,751.77 crore, while HDFC Bank sustained Rs 31,815.01 crore decline to reach Rs 8,11,061.12 crore. Baja Finance's valuation came down by Rs 30,333.64 crore , reaching Rs 4,14,699.49 crore and for ICICI Bank, the dip was Rs 16,291.53 crore to reach Rs 5,42,407.86 crore.
In the case of Bharati Airtel, market capitalization fell by Rs 15,814.77 crore and reached Rs 3,93,174.23 crore. HDFC's valuation fell by Rs 13,319.96 crore ending up at Rs 4,56,102.42 crore while HUL went down by by Rs 9,210.39 crore and reached Rs 5,36,411.69 crore.
However, RIL remained the most valued company among the top-10 firms by market valuation while TCS, HDFC Bank, Infosys, ICICI Bank, HUL, State Bank of India, HDFC, Bajaj Finance and Bharti Airtel followed.