India's largest govt bank loses Rs 44935 crore in just 5 days due to...

The Indian share market continued to be in the red for the past few weeks. Even India's largest government bank, SBI, faced the heat from the weak trend in domestic equities. The market capitalisation (mcap) of the State Bank of India (SBI) slumped Rs 44,935.46 crore to Rs 6,63,233.14 crore. While, the largest private bank, HDFC Bank, too saw a major decline in its market cap. It lost Rs 70,479.23 crore to Rs 12,67,440.61 crore in mcap during the same period.

Last week, the BSE benchmark slumped 1,844.2 points or 2.32 per cent, and the Nifty dropped 573.25 points or 2.38 per cent. Besides HDFC Bank, Mukesh Ambani's Reliance Industries, ICICI Bank, State Bank of India and ITC faced erosion from their market valuations. In contrast, Tata Group's TCS, Sunil Mittal's Bharti Airtel, Infosys, Hindustan Unilever and HCL Technologies, were the gainers.

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The combined market valuation of five of the top-10 most-valued firms tumbled Rs 1,85,952.31 crore last week, with HDFC Bank taking the biggest hit, in-line with a weak trend in domestic equities. Reliance Industries remained the most valued domestic firm followed by TCS, HDFC Bank, Bharti Airtel, ICICI Bank, Infosys, State Bank of India, Hindustan Unilever, ITC and HCL Tech.

(With inputs from PTI)