New Delhi: With Bears taking charge last week, the BSE benchmark plummeted 3,883.4 points, or 4.53 per cent. The barometer index ended at 81,688.45 on October 4, 2024. The fall in the Indian stock market resulted in the erosion of wealth of nine of the top-10 most valued firms.
The nine companies lost a massive Rs 4,74,906.18 crore in market valuation last week. Reliance Industries and HDFC Bank plummeted the most as weak trends was recorded in equities.
The benchmark indices plunged as last week amid deepening tensions in the Middle East and foreign fund outflows.
Reliance Industries market capitalisation dropped Rs 1,88,479.36 crore to Rs 18,76,718.24 crore.
HDFC Bank, country’s largest private sector bank’s, m-cap plummeted Rs 72,919.58 crore to Rs 12,64,267.35 crore.
Telecom major Bharti Airtel’s valuation eroded Rs 53,800.31 crore to Rs 9,34,104.32 crore.
ICICI Bank, country’s second largest private bank, dropped Rs 47,461.13 crore to Rs 8,73,059.59 crore.
The valuation of Life Insurance Corporation of India (LIC), the insurance behemoth, declined Rs 33,490.86 crore to Rs 6,14,125.65 crore.
The market cap of Hindustan Unilever tanked Rs 27,525.46 crore to Rs 6,69,363.31 crore.
ITC’s market capitalisation declined Rs 24,139.66 crore to Rs 6,29,695.06 crore.
Country’s IT major, Tata Consultancy Services (TCS) valuation, dropped by Rs 21,690.43 crore to Rs 15,37,361.57 crore.
The market capitalisation of country’s largest public sector bank went lower by Rs 5,399.39 crore to Rs 7,10,934.59 crore.
Infosys was the only gainer. The IT major recorded appreciation of Rs 4,629.64 crore to Rs 7,96,527.08 crore.
Despite erosion of wealth, Reliance Industries retained the title of the most-valued company.
RIL
TCS
HDFC Bank
Bharti Airtel
ICICI Bank
Infosys
State Bank of India
Hindustan Unilever
ITC
LIC
The market capitalisation of companies listed on BSE plunged Rs 16,26,691.48 crore to Rs 4,60,89,598.54 crore (USD 5.49 trillion) in five days of the market crash.
“Negative bias continued for 5th straight session amid rising fears of a surge in crude oil prices due to the ongoing west Asia war,” said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd said on Friday.
The market capitalisation of nine of top-10 most valued firms eroded Rs 4.74 lakh crore last week. Reliance Industries and HDFC Bank were the biggest hit. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
