Market Weekly Recap: Mcap of 8 of top 10 most valued firms erodes by ₹2.24 lakh crore; RIL and HDFC Bank biggest laggards

Last week, the BSE benchmark, SENSEX, dropped 1,497.2 points, or 1.84%.

From the top 10 pack, Reliance Industries (RIL), HDFC Bank, Bharti Airtel, ICICI Bank, State Bank of India, Infosys, Bajaj Finance and Life Insurance Corporation of India (LIC) faced erosion from their market valuation, while Tata Consultancy Services (TCS) and Hindustan Unilever (HUL) were the gainers.

The market capitalisation (mcap) of Reliance Industries tumbled ₹70,707.17 crore to ₹18,36,424.20 crore.

HDFC Bank's valuation eroded by ₹47,482.49 crore to ₹14,60,863.90 crore.

The mcap of ICICI Bank tanked ₹27,135.23 crore to ₹9,98,290.96 crore, and that of Bharti Airtel dropped ₹24,946.71 crore to Rs 10,77,213.23 crore.

The valuation of LIC fell Rs 23,655.49 crore to ₹5,39,047.93 crore, and that of State Bank of India dived Rs 12,692.1 crore to Rs 7,40,618.60 crore.

The mcap of Bajaj Finance declined by ₹10,471.08 crore to ₹5,45,490.31 crore, and that of Infosys edged lower by ₹7,540.18 crore to ₹6,10,463.94 crore.

However, the market valuation of TCS jumped ₹11,125.62 crore to ₹11,15,962.91 crore.

The mcap of Hindustan Unilever (HUL) climbed by ₹7,318.98 crore to ₹6,24,991.28 crore.

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

Market investors became poorer by ₹11.21 lakh crore in three days (August 26, 28, and 29) of selling pressure, where the benchmark SENSEX tumbled 1,826 points.

In the past three trading days, the BSE benchmark has plummeted 1,826.26 points, or 2.23%.

On Friday, the 30-share BSE SENSEX dropped 270.92 points, or 0.34%, to settle at 79,809.65. During the day, it declined 338.81 points, or 0.42%, to 79,741.76.

The market capitalisation of BSE-listed firms eroded by ₹11,21,459.36 crore to ₹4,43,65,504.09 crore ($5.05 trillion) in three days.

"The SENSEX ended Friday's trade on a subdued note, slipping 270.92 points to close at 79,809.65 as persistent concerns over US tariffs on Indian exports weighed on investor sentiment and kept foreign inflows under pressure," Vikram Kasat, Head - Advisory at PL Capital, said.