The combined market valuation of five of the 10 most valued firms eroded by â¹1,97,958.56 crore last week, with IT majors Tata Consultancy Services (TCS) and Infosys taking the biggest hit amid volatile trends in equities.
Last week, the BSE benchmark climbed 188.51 points or 0.25 per cent.
The market valuation of TCS tanked â¹1,10,134.58 crore to â¹14,15,793.83 crore, the most among the top 10 firms.
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The valuation of Infosys tumbled â¹52,291.05 crore to â¹6,26,280.51 crore.
IT stocks fell on Friday after tech giant Accenture lowered its revenue forecast for the sector for the 2023-24 fiscal.
Hindustan Unilever’s market valuation fell by â¹16,834.82 crore to â¹5,30,126.53 crore and that of Life Insurance Corporation of India (LIC) declined by â¹11,701.24 crore to â¹5,73,266.17 crore.
The market capitalisation (mcap) of HDFC Bank dipped â¹6,996.87 crore to â¹10,96,154.91 crore.
However, the valuation of Reliance Industries Limited jumped â¹49,152.89 crore to reach â¹19,68,748.04 crore.
State Bank of India added â¹12,851.44 crore, taking its mcap to â¹6,66,133.03 crore.
The mcap of ITC climbed $11,108.51 crore to â¹5,34,768.59 crore and that of Bharti Airtel went up by â¹9,430.48 crore to â¹6,98,855.66 crore.
ICICI Bank’s mcap jumped â¹8,191.79 crore to â¹7,65,409.98 crore.
In the ranking of the most valued firms, Reliance Industries retained the number one title followed by TCS, HDFC Bank, ICICI Bank, Bharti Airtel, State Bank of India, Infosys, LIC, ITC and Hindustan Unilever.
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