Market cap of nine most valued firms falls by over Rs 2.48 trillion

ICICI Bank is the only firm among market leaders to improve valuation last week; Reliance continues as India's most valued company.

The combined market valuation of nine of the top-10 most valued companies fell by Rs 2,48,542.3 crore last week in line with a weak broader market trend, with Reliance Industries and HDFC Bank emerging as the biggest laggards.

Last week, the BSE benchmark Sensex tumbled by 1,514.69 points or 2.49 per cent. On the top-10 list, ICICI Bank was the only gainer. The market valuation of Reliance Industries Ltd (RIL) declined by Rs 56,741.2 crore to reach Rs 16,09,686.75 crore.

HDFC Bank's valuation came down by Rs 54,843.3 crore to Rs 8,76,528.42 crore and Tata Consultancy Services (TCS) saw an