The deep plunge in stock benchmarks in India last week eroded the market capitalization (m-cap) of the top 10 most valued companies by nearly Rs 2.3 lakh crore, with the shares of Life Insurance Corporation (LIC) taking the biggest blow got.
Here’s your 10-point guide to the story:
The 30-share BSE Sensex crashed 1.017 points, or 1.84 percent, to close at 54,303 today, while the broader NSE Nifty fell 276 points, or 1.68 percent, to settle at 16,202.
Investors lost Rs 3.11 lakh crore in Friday’s session with the market cap of all BSE-listed companies falling to Rs 2,51,84,358.86 crore. The combined market capitalization of the top-1o most valued companies fell almost Rs 2.3 lakh crore.
Indeed, Reliance Industries valuation fell by Rs 44,311.19 crore to Rs 18,36,039.28 crore.
Top heavyweights in the information technology field, TCS and Infosys, lost a total of Rs 45,746.13 crore. The valuation of TCS was Rs 12,31,398.85 crore while that of Infosys was Rs 6,21,502.63 crore.
The country’s largest lenders, HDFC Bank, ICICI Bank and SBI, saw a cumulative erosion of Rs 34,970.26 crore in their market cap. The valuation of HDFC Bank fell by Rs 16,433.92 crore to Rs 7,49,880.79 crore.
State Bank of India (SBI) m-cap fell by Rs 2,231.15 crore to Rs 4,12,138.56 crore, and that of ICICI Bank fell by Rs 16,305.19 crore to Rs 5,0,744.27 crore.
The valuation of Hindustan Unilever Ltd (HUL) fell by Rs 21,674.98 crore to Rs 5,16,886.58 crore, while Life Insurance Corporation (LIC) fell by Rs 57,272.85 crore to Rs 4,48,885.09 crore.
The valuation of HDFC fell by Rs 17,879.22 crore to Rs 3,95,420.14 crore.
Telecoms major Bharti Airtel also witnessed a drop of Rs 7,359.31 crore from its market valuation which stood at Rs 3,69,613.44 crore.
In the top 10 companies, Reliance Industries retained the title of most valued company, followed by TCS, HDFC Bank, Infosys, HUL, ICICI Bank, LIC, SBI, HDFC and Bharti Airtel.