The combined market valuation of four of the top-10 most valued firms eroded by ₹87,960.29 crore last week, with Bharti Airtel taking the biggest hit, in-tandem with a bearish trend in equities.

Last week, the BSE benchmark Sensex declined 468.42 points, or 0.60%, and the NSE Nifty dipped 114 points, or 0.46%.

“Indian equity markets ended the week on a cautious note, extending their recent corrective phase as elevated crude oil prices, rising global bond yields and persistent geopolitical uncertainty weighed on investor sentiment,” Ajit Mishra – SVP, Research, Religare Broking Ltd, said.

The valuation of Bharti Airtel dropped ₹28,052.96 crore to ₹12,14,963.15 crore, the most among the top-10 firms.

Tata Consultancy Services (TCS) faced an erosion of ₹22,070.34 crore from its valuation, which stood at ₹8,31,436.51 crore.

The market capitalisation (mcap) of the State Bank of India declined ₹20,861.2 crore to ₹9,64,968.76 crore and that of Hindustan Unilever fell ₹16,975.79 crore to ₹4,73,912.56 crore.

However, the valuation of Life Insurance Corporation of India (LIC) jumped Rs 12,650 crore to Rs 5,35,980.31 crore.

The mcap of Reliance Industries surged ₹8,119.53 crore to ₹17,78,175.59 crore, and that of Larsen & Toubro climbed ₹3,487.83 crore to ₹5,62,460.94 crore.

The market valuation of Bajaj Finance edged higher by ₹3,424.28 crore to ₹6,80,621.62 crore.

ICICI Bank added ₹752.47 crore taking its mcap to ₹10,18,330.45 crore.

The mcap of HDFC Bank went up ₹356.95 crore to ₹11,21,159.05 crore.

Reliance Industries remained the most valued firm, followed by Bharti Airtel, HDFC Bank, ICICI Bank, State Bank of India, TCS, Bajaj Finance, Larsen & Toubro, LIC and Hindustan Unilever.

The combined market valuation of nine of the top 10 valued firms eroded by ₹3.12 lakh crore last week, with Reliance Industries taking the biggest hit.

Last week, the 30-share BSE Sensex plunged by 2,090.2 points, or 2.7%, while the 50-share NSE Nifty declined 532.65 points, or 2.2%.

“Markets ended the week lower, breaking out of their three-week consolidation phase amid lingering geopolitical tensions in West Asia, persistent weakness in the rupee, and rising inflationary concerns,” Ajit Mishra – SVP, Research, Religare Broking Ltd, said.

The sharp rise in crude oil prices above the $105-per-barrel mark intensified worries over imported inflation, fiscal stress, and pressure on corporate margins, he said.

From the top-10 pack, Bharti Airtel emerged as the only winner.

The market valuation of Reliance Industries tumbled ₹1,34,445.77 crore to ₹18,08,420.81 crore.

State Bank of India’s valuation eroded by ₹52,245.3 crore to ₹8,88,862.32 crore.

The valuation of Tata Consultancy Services (TCS) tanked ₹47,415.04 crore to ₹8,19,062.65 crore and that of Bajaj Finance dived ₹27,892.28 crore to ₹5,66,717.74 crore.

The market capitalisation (mcap) of HDFC Bank dropped by ₹20,630.01 crore to ₹11,82,069.25 crore.

ICICI Bank’s market capitalisation diminished by ₹14,290 crore to ₹8,92,385.39 crore.

Larsen & Toubro’s valuation edged lower by ₹9,078.87 crore to ₹5,37,542.34 crore, and that of Hindustan Unilever fell by ₹3,970.8 crore to ₹5,33,592.18 crore.

The mcap of Life Insurance Corporation of India (LIC) dipped by ₹2,182.12 crore to ₹5,05,367.32 crore.

However, the market valuation of Bharti Airtel jumped ₹42,470.13 crore to ₹11,60,525.16 crore.

Reliance Industries remained the most valued firm followed by HDFC Bank, Bharti Airtel, ICICI Bank, State Bank of India, TCS, Bajaj Finance, Larsen & Toubro, Hindustan Unilever and LIC.