New Delhi, March 22 The combined market valuation of five of the top 10 most-valued companies declined by Rs 1 lakh crore last week, with HDFC Bank experiencing the biggest drop.
Last week, the BSE benchmark Sensex fell by 30.96 points, or 0.04 percent, and the NSE Nifty slipped by 36.6 points, or 0.15 percent.
"The markets ended the week on a largely flat note with a negative bias, reflecting underlying caution among investors. The tone remained positive during the first three sessions; however, a sharp decline on Thursday erased the gains, followed by a volatile final session," said Ajit Mishra, SVP, Research, Religare Broking Ltd.
While HDFC Bank, ICICI Bank, Tata Consultancy Services (TCS), Bajaj Finance, and Hindustan Unilever were the underperformers, Reliance Industries, Bharti Airtel, State Bank of India, Infosys, and Life Insurance Corporation of India (LIC) emerged as the winners.
The combined market valuation of the five companies declined by Rs 1,02,771.87 crore.
HDFC Bank's valuation dropped by Rs 56,124.48 crore to Rs 12,01,267.28 crore.
The market valuation of Hindustan Unilever dropped by Rs 18,009.62 crore to Rs 4,89,631.32 crore.
Bajaj Finance lost Rs 15,338.42 crore to Rs 5,16,715.12 crore.
The market capitalization (mcap) of TCS declined by Rs 7,127.63 crore to Rs 8,64,940 crore, and that of ICICI Bank edged lower by Rs 6,171.72 crore to Rs 8,91,673.06 crore.
However, the valuation of Reliance Industries jumped by Rs 45,942.75 crore to Rs 19,14,235.92 crore.
The mcap of Bharti Airtel surged by Rs 24,462.03 crore to Rs 10,52,893.75 crore, and that of State Bank of India climbed by Rs 10,707.52 crore to Rs 9,76,968.57 crore.
The market valuation of LIC edged higher by Rs 2,624.88 crore to Rs 4,91,610.45 crore, and Infosys added Rs 2,473.79 crore, taking its mcap to Rs 5,08,789.37 crore.
Reliance Industries remained the most-valued company, followed by HDFC Bank, Bharti Airtel, State Bank of India, ICICI Bank, TCS, Bajaj Finance, Infosys, LIC, and Hindustan Unilever Ltd.