The combined market valuation of eight of the top 10 most valuable firms fell by ₹1.55 lakh crore last week, with HDFC Bank and Bajaj Finance accounting for most of the losses. In a holiday-truncated week, the 30-share BSE Sensex tumbled 1,605.44 points, or 2.15%, while the 50-share NSE Nifty slumped 546.15 points, or 2.36%.
Tracking the weak trend in equities, the total market capitalisation of BSE-listed firms fell by ₹20,78,774.28 crore over four sessions to ₹4,51,83,393.14 crore from ₹4,72,62,167.42 crore recorded on October 16. Among the top 10 listed companies, eight lost ₹1,55,671.9 crore, while two, Tata Consultancy Services and Larsen & Toubro, closed the week with valuation gains.
Among major losers, the market valuation of HDFC Bank tumbled ₹55,506.95 crore to ₹10,67,121.12 crore. The company's stock fell 5% during the last week. Bajaj Finance's valuation eroded by ₹34,180.51 crore to ₹5,77,146.21 crore. The market valuation of Reliance Industries dropped by ₹27,065.08 crore to ₹16,10,372.11 crore and that of Life Insurance Corporation of India by ₹21,062.24 crore to ₹4,81,142.58 crore.
The market capitalisation of Bharti Airtel tanked ₹9,360.75 crore to ₹11,79,454.70 crore. The valuation of State Bank of India diminished by ₹4,338.46 crore to ₹8,83,384.38 crore. The mcap of Infosys declined by ₹2,881.38 crore to ₹4,68,528.03 crore, and that of ICICI Bank declined by ₹1,276.53 crore to ₹10,01,594.91 crore.
Meanwhile, the valuation of Tata Consultancy Services jumped ₹23,517.56 crore to ₹9,14,652.52 crore. The mcap of Larsen & Toubro climbed ₹1,788.66 crore to ₹5,01,513.72 crore. Reliance Industries was the most valued firm, followed by Bharti Airtel, HDFC Bank, ICICI Bank, TCS, State Bank of India, Bajaj Finance, L&T, Life Insurance Corporation of India and Infosys.