By Malvika Gurung
Investing.com — The past week observed high volatility, with domestic equities recording heavy sell-offs on Friday alone after the US Fed announced a 75 bps interest rate hike on Wednesday and iterated an ultra-hawkish monetary tightening policy going ahead to tame decades-high inflation.
Indian equity benchmark indices ended deep in red on Friday, down 1.72% and crashing 1,020.8 points or 1.73%.
The country’s top 10 most valued companies lost their combined valuation by Rs 1,34,139.14 crore in the week, with the market capitalizations of 7 giants eroding away.
The wealth of oil-to-telecom conglomerate Reliance Industries (NS:) witnessed the biggest drop, followed by the largest private sector lender HDFC Bank (NS:) and the Adani (NS:) Group power transmission giant Adani Transmission (NS:).
The FMCG behemoth Hindustan Unilever (NS:), Bajaj Finance (NS:) and ITC (NS:) were the only three companies in the top 10 list that gained valuations last week.
Here’s how the m-caps of giants of the elite Big Boys club performed in the past week.
- RIL’s m-cap plunged by Rs 40,558.3 crore.
- TCS’ (NS:) valuation slipped by Rs 9,458.65 crore.
- HDFC Bank’s m-cap tanked by Rs 25,544.9 crore.
- Hindustan Unilever’s m-cap rallied by Rs 35,467.1 crore.
- ICICI Bank’s (NS:) valuation tanked by Rs 18,147.5 crore.
- Infosys ‘ (NS:) valuation declined by Rs 5,848.8 crore
- SBI’s (NS:) m-cap fell by Rs 9,950.9 crore.
- Bajaj Finance’s valuation surged by Rs 13,128.7 crore.
- Adani Transmission lost Rs 24,630.1 crore of its wealth.
- ITC’s valuation jumped by Rs 20,381.6 crore.