Market cap of 7 out of top 10 most valued firms decline by ₹1.16 lakh crore; HDFC Bank biggest laggard

In the holiday shortened week, the BSE benchmark saw a decline of 982.56 points, equivalent to 1.37 percent.

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Among the top-10 companies by market value, Reliance Industries, Tata Consultancy Services (TCS), HDFC Bank, Life Insurance Corporation of India (LIC), Hindustan Unilever, ITC, and State Bank of India experienced declines, while ICICI Bank, Infosys, and Bharti Airtel emerged as gainers.

HDFC Bank’s market valuation contracted by ₹32,661.45 crore, settling at ₹10,90,001.31 crore.

LIC’s valuation saw a decline of ₹20,682.74 crore, reaching ₹5,71,337.04 crore.

TCS witnessed a erosion of ₹19,173.43 crore in market valuation, settling at ₹13,93,439.94 crore, while State Bank of India’s valuation plunged by ₹16,599.77 crore to ₹5,46,989.47 crore.

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ITC’s market capitalization diminished by ₹15,908.1 crore, reaching ₹5,68,262.28 crore, and Hindustan Unilever experienced a decline of ₹9,210.4 crore in valuation, settling at ₹5,70,974.17 crore.

Reliance Industries saw a dip of ₹1,928.22 crore in market capitalization, settling at ₹18,33,737.60 crore. However, Bharti Airtel’s market cap surged by ₹20,727.87 crore, reaching ₹6,52,407.83 crore.

Infosys added ₹9,151.75 crore to its valuation, reaching ₹6,93,457.65 crore, while ICICI Bank’s market capitalization climbed by ₹1,137.37 crore to ₹7,08,511.16 crore.

In the ranking of the most-valued companies, Reliance Industries retained the top spot, followed by TCS, HDFC Bank, ICICI Bank, Infosys, Bharti Airtel, LIC, Hindustan Unilever, ITC, and State Bank of India.

(With inputs from PTI)

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Published: 28 Jan 2024, 11:24 AM IST