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Bharti Airtel and TCS Lead ₹88,000 Crore Market Cap Loss Among India’s Most Valued Companies
Mcap: ICICI Bank's valuation fell by ₹1,587 crore to ₹9,59,540 crore. However, LIC's market cap increased by ₹18,469 crore to ₹5,84,366 crore.
It resulted in a decline of over ₹88,000 crore in the market capitalization of seven of the country's 10 most valuable companies. In the last week, the BSE benchmark slid 722 points while the Nifty lost 229 points. The reason is attributed to fewer trading days last week because of holidays. Bharti Airtel and TCS were the biggest losers due to a weak trend in equities.
Among the top 10 most valuable companies, Reliance Industries, HDFC Bank, Bharti Airtel, Tata Consultancy Services, ICICI Bank, Infosys and Hindustan Unilever saw their valuations decline. State Bank of India, Bajaj Finance and Life Insurance Corporation of India were among the gainers. Bharti Airtel's market valuation fell by ₹30,506 crore to ₹11,41,048 crore. TCS's valuation fell by ₹23,680 crore to ₹10,82,658.42 crore.
Hindustan Unilever's market capitalization fell by ₹12,253 crore to ₹5,67,308 crore, and Reliance Industries' market cap fell by ₹11,164 crore to ₹20,00,437 crore. HDFC Bank's market cap fell by ₹7,303 crore to ₹15,11,375 crore, and Infosys' market cap fell by ₹2,139 crore to ₹6,13,750 crore. ICICI Bank's valuation fell by ₹1,587 crore to ₹9,59,540 crore. However, LIC's market cap increased by ₹18,469 crore to ₹5,84,366 crore.
