Market cap of 6 major companies declined by ₹68,400 crore
What's the story
Last week, six out of the 10 most valued firms experienced a significant decrease in their combined market valuation by ₹68,417.14 crore.
Bharti Airtel and Reliance Industries were the hardest hit in this decline.
Bharti Airtel's market capitalization fell by ₹27,635.65 crore, bringing its total valuation down to ₹7,23,770.70 crore.
Similarly, Reliance Industries' valuation dropped by ₹23,341.56 crore to a new total of ₹19,40,738.40 crore. However, it is still the most valued firm from the top-10 pack.
Valuation slump
Other firms also face market valuation slump
In addition to Bharti Airtel and Reliance Industries, other firms also saw a decrease in their market valuations.
Life Insurance Corporation of India (LIC) experienced a drop in its market capitalization by ₹5,724.13 crore, reducing its total valuation to ₹6,19,217.27 crore.
Infosys' market capitalization fell by ₹5,686.69 crore to ₹5,87,949.62 crore, while ITC's valuation was cut down by ₹4,619.35 crore to ₹5,44,645.97 crore.
Hindustan Unilever's market capitalization dipped by ₹1,409.76 crore to reach a new total of ₹5,20,551.94 crore.
Market rise
Some firms buck the trend with m-cap increase
Despite the overall market dip, some firms saw an increase in their market capitalizations.
State Bank of India (SBI)'s market capitalization rose by ₹26,907.71 crore to a total of ₹7,42,126.11 crore.
ICICI Bank added ₹24,651.55 crore to its valuation, now standing at ₹8,02,401.77 crore.
Tata Consultancy Services experienced a surge in its market capitalization by ₹9,587.93 crore to reach a new total of ₹13,89,110.43 crore.
HDFC Bank's market cap increased by ₹6,761.25 crore to stand at ₹11,53,704.84 crore.