The deep plunge in India equity benchmarks eroded the market capitalisation of the top-10 most valued companies by nearly ₹ 2.3 lakh crore last week.
Market NewsEdited by Rahul Karunakar (with inputs from PTI)Updated: June 12, 2022 3:42 pm IST
The deep plunge in India equity benchmarks eroded the market capitalisation (m-cap) of the top-10 most valued companies by nearly ₹ 2.3 lakh crore last week, with the shares of Life Insurance Corporation (LIC) taking the biggest hit.
Here Is Your 10-Point Guide To The Story:
1. The 30-share BSE Sensex crashed 1,017 points or 1.84 per cent to close at 54,303 today, while the broader NSE Nifty moved 276 points or 1.68 per cent down to settle at 16,202.
2. Investors lost ₹ 3.11 lakh crore in Friday’s session, with the market capitalisation of all BSE-listed companies falling to ₹ 2,51,84,358.86 crore. The combined market cap of the top-1o most valued firms fell nearly ₹ 2.3 lakh crore.
3. Indeed, Reliance Industries’ valuation fell by ₹ 44,311.19 crore to ₹ 18,36,039.28 crore.
4. Top information technology heavyweights, TCS and Infosys, lost a culmulative ₹ 45,746.13 crore. The valuation of TCS stood at ₹ 12,31,398.85 crore, while that of Infosys was ₹ 6,21,502.63 crore.
5. The country’s top lenders, HDFC Bank, ICICI Bank and SBI, saw a cumulative erosion of ₹ 34,970.26 crore in their market capitalisation. HDFC Bank’s valuation dipped by ₹ 16,433.92 crore to ₹ 7,49,880.79 crore.
6. The m-cap of State Bank of India (SBI) plunged by ₹ 2,231.15 crore to ₹ 4,12,138.56 crore, and that of ICICI Bank slumped by ₹ 16,305.19 crore to ₹ 5,00,744.27 crore.
7. The valuation of Hindustan Unilever Ltd (HUL) tanked by ₹ 21,674.98 crore to ₹ 5,16,886.58 crore, while Life Insurance Corporation (LIC) declined by ₹ 57,272.85 crore to ₹ 4,48,885.09 crore.
8. HDFC’s valuation slipped by ₹ 17,879.22 crore to ₹ 3,95,420.14 crore.
9. Telecom major Bharti Airtel also witnessed a dip of ₹ 7,359.31 crore from its market valuation, which stood at ₹ 3,69,613.44 crore.
10.In the top-10 firm rankings, Reliance Industries retained the title of the most valued firm, followed by TCS, HDFC Bank, Infosys, HUL, ICICI Bank, LIC, SBI, HDFC and Bharti Airtel.