Mcap of 8 top valued firms erodes by ₹1.65 trn, HDFC Bank biggest laggard

The combined market capitalization of eight of the top-10 most valued firms in India eroded by ₹1,65,501.49 crore last week, with HDFC Bank emerging as the biggest laggard, in line with a bearish trend in domestic equities. The BSE benchmark fell by 1,070.39 points, or 1.30%, during this period. HDFC Bank’s valuation dropped significantly by ₹47,075.97 crore, bringing its market cap to ₹14,68,777.88 crore. Other major firms that saw declines include Reliance Industries (₹21,516.63 crore to ₹19,31,963.46 crore), ICICI Bank (₹30,677.44 crore to ₹10,10,375.63 crore), State Bank of India (₹18,250.85 crore to ₹7,07,186.89 crore), Bharti Airtel, Life Insurance Corporation of India (LIC), Bajaj Finance, and Hindustan Unilever Ltd. In contrast, Tata Consultancy Services (TCS) and Infosys recorded gains in their market valuations. Reliance Industries remained the most valued firm, followed by HDFC Bank, TCS, Bharti Airtel, ICICI Bank, State Bank of India, Infosys, LIC, Bajaj Finance, and Hindustan Unilever.

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