New Delhi, March 29 The combined market valuation of seven of the top-10 most valued companies fell by Rs 1.75 lakh crore in the week leading up to the holiday, with Reliance Industries taking the biggest hit, in line with a weak trend in equities.
Last week, the BSE benchmark Sensex lost 949.74 points or 1.27 per cent, and the NSE Nifty fell by 294.9 points or 1.27 per cent.
"The markets ended the week on a weak note, reflecting heightened volatility amid fluctuating global cues and escalating geopolitical tensions in the Middle East. The week was marked by sharp swings, with early losses driven by concerns over energy supply disruptions, a weakening rupee, which touched a record low, and rising volatility," said Ajit Mishra, SVP, Research, Religare Broking Ltd.
This was followed by a mid-week recovery on hopes of a temporary de-escalation in US-Iran tensions, he noted.
"However, renewed selling pressure on Friday erased the gains, dragging indices lower," Mishra added.
The market valuation of Reliance Industries fell by Rs 89,720.3 crore to Rs 18,24,515.62 crore.
The valuation of HDFC Bank fell by Rs 37,248.59 crore to Rs 11,64,018.69 crore.
State Bank of India lost Rs 35,399.42 crore from its market valuation, which stood at Rs 9,41,569.15 crore.
The market capitalization (mcap) of ICICI Bank dropped by Rs 8,121.76 crore to Rs 8,83,551.30 crore, and that of Bharti Airtel declined by Rs 2,480.42 crore to Rs 10,50,413.33 crore.
The mcap of Hindustan Unilever diminished by Rs 2,091.13 crore to Rs 4,87,540.19 crore, and that of Tata Consultancy Services (TCS) dipped by Rs 271.35 crore to Rs 8,64,668.65 crore.
However, the market valuation of Larsen & Toubro surged by Rs 18,051.68 crore to Rs 4,90,536.19 crore.
The mcap of Bajaj Finance jumped Rs 8,680.36 crore to Rs 5,25,395.48 crore.
Infosys added Rs 6,245.3 crore, taking its valuation to Rs 5,15,034.67 crore.
Reliance Industries retained the title of the most valued firm, followed by HDFC Bank, Bharti Airtel, State Bank of India, ICICI Bank, TCS, Bajaj Finance, Infosys, Larsen & Toubro, and Hindustan Unilever.