Mcap of 8 of 10 most valued companies erodes by Rs 79,129 cr; Bajaj Finance and ICICI Bank were hit badly

The combined market valuation of eight of the top 10 most valued domestic companies fell by Rs 79,129.21 crore last week, with Bajaj Finance and ICICI Bank taking the biggest hits, amid a largely bearish trend in equities.Last week, the BSE benchmark index fell 444.71 points or 0.51 percent.

Out of the top 10, Reliance Industries and Larsen & Toubro were the only gainers, while HDFC Bank, Bharti Airtel, Tata Consultancy Services (TCS), ICICI Bank, State Bank of India, Infosys, Bajaj Finance and Life Insurance Corporation of India (LIC) faced erosion due to their valuation.Bajaj Finance’s market capitalization (mcap) fell by Rs 19,289.7 crore to Rs 6,33,106.69 crore.

ICICI Bank’s valuation fell by Rs 18,516.31 crore to Rs 9,76,668.15 crore.

Bharti Airtel’s mcap reduced by Rs 13,884.63 crore to Rs 11,87,948.11 crore and that of State Bank of India fell by Rs 7,846.02 crore to Rs 8,88,816.17 crore.

Infosys lost Rs 7,145.95 crore against its market valuation which stood at Rs 6,64,220.58 crore. TCS’s mcap fell by Rs 6,783.92 crore to Rs 11,65,078.45 crore and that of HDFC Bank fell by Rs 4,460.93 crore to Rs 15,38,558.71 crore.

LIC’s valuation fell by Rs 1,201.75 crore to Rs 5,48,820.05 crore.

However, Reliance Industries’ mcap rose by Rs 20,434.03 crore to Rs 21,05,652.74 crore.

Larsen & Toubro added Rs 4,910.82 crore, taking its valuation to Rs 5,60,370.38 crore.

Reliance Industries remained the most valued company, followed by HDFC Bank, Bharti Airtel, TCS, ICICI Bank, State Bank of India, Infosys, Bajaj Finance, Larsen & Toubro and LIC.