Market Weekly Update: Mcap of 8 of top-10 most valued firms erodes by ₹2.81L crore; SBI biggest laggard

Last week, the BSE benchmark tanked 2,368.29 points, or 2.91%.

From the top-10 pack, Reliance Industries (RIL) and Infosys were the only gainers.

The market valuation of State Bank of India tumbled ₹53,952.96 crore to ₹10,55,567.27 crore.

ICICI Bank's valuation eroded by ₹46,936.82 crore to ₹940,049.82 crore, and that of HDFC Bank dived ₹46,552.3 crore to ₹13,19,107.08 crore.

The valuation of Larsen & Toubro tanked ₹45,629.03 crore to ₹5,43,208.36 crore.

The market capitalisation (mcap) of Bajaj Finance dropped by ₹28,934.56 crore to ₹5,91,136.03 crore, and that of Tata Consultancy Services (TCS) diminished by ₹28,492.44 crore to ₹9,25,380.15 crore.

Hindustan Unilever's m-cap declined by ₹26,350.67 crore to ₹5,23,042.51 crore, and that of Bharti Airtel edged lower by ₹4,732.75 crore to ₹10,67,120.50 crore.

However, the market valuation of Reliance Industries jumped ₹14,750.39 crore to ₹19,01,583.05 crore.

The m-cap of Infosys climbed ₹3,459.99 crore to ₹5,30,546.54 crore.

Reliance Industries remained the most valued domestic firm, followed by HDFC Bank, Bharti Airtel, State Bank of India, ICICI Bank, TCS, Bajaj Finance, Larsen & Toubro, Infosys, and Hindustan Unilever.

How stock market fared on Friday, March 6

Benchmark indices, BSE SENSEX and the NSE's NIFTY50, tumbled over 1% on Friday after a day's breather as the conflict in the Middle East entered the seventh day, driving crude oil prices higher.

The 30-share BSE SENSEX tumbled 1,097 points, or 1.37%, to settle at 78,918.90. During the day, it sank 1,203.72 points, or 1.50%, to 78,812.18.

The 50-share NSE NIFTY50 dropped 315.45 points, or 1.27%, to end at 24,450.45.

Weakness in US equities, a subdued trend in European markets, and relentless foreign fund outflows also dampened investor sentiment, analysts said.

From the SENSEX pack, Eternal, ICICI Bank, Axis Bank, UltraTech Cement, HDFC Bank, State Bank of India, Bajaj Finserv, and Larsen & Toubro were among the major laggards.

Bharat Electronics, Reliance Industries, Sun Pharma, NTPC, Infosys, and HCL Tech were the gainers.

Brent crude, the global oil benchmark, jumped 2.53% to $87.57 per barrel.