Nine of top 10 firms lose nearly Rs 2.2 lakh cr in market valuation

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New Delhi, Feb 28 (Mayank Nigam) Nine of the 10 most-valued companies lost a whopping Rs 2,19,920.71 lakh crore in their total market valuation last week with the barometer Sensex tanking more than 3 per cent. Reliance Industries (RIL) was the only scrip to post gains in its market valuation among the top 10 valued companies.

Among losers, Tata Consultancy Services’ market valuation tanked Rs 81,506.34 crore to Rs 10,71,263.77 crore. The valuation of HDFC Bank declined by Rs 2,202.12 crore to reach Rs 8,45,552.53 crore. The market capitalisation (m-cap) of ICICI Bank dropped by Rs 18,098.57 crore to Rs 4,13,078.87 crore and that of Hindustan Unilever by Rs 11,536.32 crore to Rs 5,00,937.14 crore. HDFC’s valuation declined by Rs 35,389.88 crore to reach Rs 4,57,518.73 crore and that of Infosys by Rs 16,613.57 crore to Rs 5,33,487.07 crore.

The market capitalisation of Bajaj Finance fell by Rs 15,712.46 crore to Rs 3,15,653.33 crore and that of Kotak Mahindra Bank dipped Rs 30,695.43 crore to Rs 3,53,081.63 crore. The valuation of SBI went down by Rs 8,166.02 crore to reach Rs 3,48,238.34 crore. Lone gainer RIL, on the other hand, added Rs 2,092.01 crore to its valuation which stood at Rs 13,21,044.35 crore at close on Friday. Key benchmark index Sensex dropped by 1,786 points or 3.46 per cent last week amid weak global cues.

The 30-share index posted its biggest single-day fall in nearly 10 months on Friday while the NSE Nifty plunged over 568 points to crack below the psychological 15,000-mark, tracking global selloffs triggered by a panic in bond markets overseas. In the ranking of 10 most-valued companies, RIL was at the top of the chart followed by TCS, HDFC Bank, Infosys, Hindustan Unilever Limited, HDFC, ICICI Bank, Kotak Mahindra Bank, SBI and Bajaj Finance.

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