Reliance Industries and Life Insurance Corporation of India were the worst impacted as eight of the Top 10 Indian companies saw their market valuation eroding last week. FMCG stocks Hindustan Unilever Limited and ITC were the only gainers among the market's top heavyweights.
Reliance Industries plummeted Rs 33,930.56 crore to hit a market capitalisation of Rs 19,94,765.01 crore while LIC plunged Rs 30,676.24 crore to record a valuation of Rs 7,17,001.74 crore.
The country's largest public lender, State Bank of India, sank to Rs 7,35,566.52 crore after losing Rs 21,151.33 crore.
The two IT majors in the Top 10 basket also saw their valuation getting wiped out. Infosys tumbled Rs 20,973.19 crore to Rs 7,35,277.28 crore while Tata Consultancy Services (TCS) tanked Rs 19,157.77 crore to Rs 15,30,469.11 crore.
The market cap of Bharti Airtel, the second largest telecom giant after Reliance Industries, witnessed a drop of Rs 16,993.56 crore to Rs 8,33,396.32 crore.
The country's two largest private lenders also saw their capitalisaton eroding. HDFC Bank lost Rs 7,095.87 crore last week to record a valuation of Rs 12,56,505.53 crore while ICICI Bank slumped by Rs 16,975.55 crore to Rs 8,25,201.23 crore.
All the eight laggards saw their combined market cap getting wiped out by Rs 1,66,954.07 crore amid global selloff and FII outflows.
FMCG stocks in the Top 10 withstood the selling pressure, with Hindustan Unilever zooming Rs 12,946.24 crore to record a market cap of Rs 6,45,808.65 crore and ITC leaping by Rs 8,406.26 crore to Rs 6,19,829.37 crore.
Going by market capital, Reliance Industries continues to be the most valued firm in the country. It is followed by TCS, HDFC Bank, Bharti Airtel, ICICI Bank, State Bank of India, Infosys, LIC, Hindustan Unilever and ITC.
