M-cap of top 10 companies Rs. 4.48 lakh crore decreased; SBI, HDFC Bank are at the top

Last week the combined market capitalization of the top 10 domestic companies was Rs. 4.48 lakh crore was a sharp decline, with banking majors State Bank of India and HDFC Bank taking the biggest hit, with a steep decline in equities.

Last week, the BSE benchmark Sensex fell 4,354.98 points, or 5.51 percent, and the NSE Nifty fell 1,299.35 points, or 5.31 percent, as rising crude prices fueled inflationary pressures and worries about global economic stability amid escalating conflicts in West Asia.

“The primary reason behind the weakness in the market was the sustained rise in crude oil prices following the escalating conflict between Iran, the United States and Israel. Brent crude crossed USD 101 per barrel, raising concerns about India’s fiscal position and inflation outlook,” said Ajit Mishra – SVP, Research, Religare Broking Ltd.

The market valuation of State Bank of India is Rs. 89,306.22 crore reduced to Rs. 9,66,261.05 crores.

HDFC Bank Rs. 61,715.32 crore facing an erosion of Rs. 12,57,391.76 crore was faced.

Bajaj Finance valued at Rs. 59,082.49 crores down to Rs. 5,32,053.54 crore and Tata Consultancy Services (TCS) was valued at Rs. 53,312.52 crore reduced to Rs. 8,72,067.63 crores.

ICICI Bank’s market capitalization (mcap) is Rs. 42,205.04 crore reduced to Rs. 8,97,844.78 crore and Bharti Airtel’s market cap is Rs. 38,688.78 crore reduced to Rs. 10,28,431.72 crores.

Reliance Industries is valued at Rs. 33,289.88 crore reduced to Rs. 18,68,293.17 crores.

LIC’s mcap is Rs. 31,245.49 crores down to Rs. 4,88,985.57 crore and Infosys’ mcap was Rs. 24,230.96 crore reduced to Rs. 5,06,315.58 crores.

Hindustan Unilever’s mcap is Rs. 15,401.57 crore reduced to Rs. 5,07,640.94 crores.

Reliance Industries remained the most valuable domestic company, followed by HDFC Bank, Bharti Airtel, State Bank of India, ICICI Bank, TCS, Bajaj Finance, Hindustan Unilever, Infosys and LIC.