Eight of top 10 firms lose Rs 1 lakh crore in mcap; Infosys, HDFC Bank, TCS biggest laggards

Eight of the top 10 most valued firms faced a combined erosion of Rs 1,06,991.42 crore in market valuation last week, with IT majors Infosys and Tata Consultancy Services along with HDFC Bank taking the biggest hit.

Last week, the Sensex declined 940.37 points or 1.55 per cent.

Barring Hindustan Unilever and Life Insurance Corporation of India (LIC), eight firms suffered erosion from their market capitalisation (mcap).

The market valuation of Infosys tumbled Rs 25,185.37 crore to Rs 6,09,687.79 crore, the most among the top 10 firms.

The mcap of HDFC Bank tanked Rs 18,375.41 crore to Rs 8,89,130 crore.

The valuation of Tata Consultancy Services (TCS) eroded by Rs 17,289.02 crore to Rs 11,75,287.30 crore and that of ICICI Bank diminished by Rs 14,447.69 crore to Rs 6,07,140.65 crore.

State Bank of India's market valuation slumped Rs 11,245.01 crore to Rs 5,36,012.18 crore.

HDFC's valuation declined by Rs 7,419.45 crore to Rs 4,74,018.02 crore and that of Reliance Industries Limited fell by Rs 7,408.2 crore to Rs 17,16,571.25 crore.

The mcap of Bharti Airtel dipped Rs 5,621.27 crore to Rs 4,43,356.45 crore.

However, LIC added Rs 14,105.09 crore, taking its valuation to Rs 4,47,114.09 crore.

The mcap of Hindustan Unilever jumped Rs 4,053.05 crore to Rs 6,05,489.67 crore.

Reliance Industries remained the most valued firm, followed by TCS, HDFC Bank, Infosys, ICICI Bank, Hindustan Unilever, State Bank of India, HDFC, LIC and Bharti Airtel.