Market cap of India's top 8 companies down ₹1.65L crore

Market cap of India's top 8 companies down ₹1.65L crore

The combined market capitalization of eight out of the top 10 most valued companies in India has fallen by a whopping ₹1.65 lakh crore last week.

The decline was led by HDFC Bank, which witnessed the biggest hit amid a bearish trend in domestic equities.

The BSE benchmark index Sensex also witnessed a major fall, plunging 1,070 points or 1.30%.

HDFC Bank, ICICI Bank and Reliance Industries take biggest hits

HDFC Bank's market capitalization took a major hit, eroding by ₹47,075 crore to ₹14.68 lakh crore.

ICICI Bank also witnessed a significant fall in its market cap by ₹30,677 crore to ₹10.10 lakh crore.

Reliance Industries and State Bank of India saw their valuations drop by ₹21,516 crore and ₹18,250 crore, respectively.

Other companies witnessing decline in market cap

Other companies such as Hindustan Unilever, Bharti Airtel, LIC and Bajaj Finance also witnessed a fall in their market capitalizations.

Hindustan Unilever's market cap fell by ₹16,388 crore to ₹5.44 lakh crore, while Bharti Airtel's valuation went down by ₹15,481 crore to ₹10.50 lakh crore.

LIC's market cap dipped by ₹13,693 crore to ₹5.93 lakh crore and Bajaj Finance's valuation fell by ₹2,417 crore to ₹5.80 lakh crore.

TCS, Infosys buck the trend

Despite the overall market downturn, Tata Consultancy Services (TCS) and Infosys managed to witness an increase in their market valuations. TCS's market cap jumped by ₹22,215 crore to ₹12.47 lakh crore, while Infosys's valuation climbed by ₹15,578 crore to ₹6.65 lakh crore.