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In a major setback for the State Bank of India (SBI), the country’s largest state-run bank lost a whopping Rs 44,935.46 in market valuation in the last five days, while India’s largest private bank, HDFC Bank, also witnessed a slump in its market cap, losing Rs 70,479.23 crore during the week, even as the Indian share market continued its downward trend.

According to market data, the market capitalisation (cap) of SBI slumped to Rs 6,63,233.14 crore, while the valuation of HDFC Bank dipped to Rs 12,67,440.61, during the week.

Additionally, billionaire Mukesh Ambani-led Reliance Industries, ICICI Bank, State Bank of India and ITC also witnessed the erosion of their market valuations, while Tata Group’s TCS, Sunil Mittal-led Bharti Airtel, Narayana Murthy’s Infosys, Hindustan Unilever and HCL Technologies, emerged as the gainers during the same period.

Five of India’s top-10 most-valued firms, including Reliance Industries– India’s most valued company– lost a combined Rs 1,85,952.31 crore in market valuation last week, with HDFC Bank taking the biggest hit, in line with a weak trend in domestic equities.

However, despite the erosion, 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, amid declining trends as the BSE benchmark slumped 1,844.2 points or 2.32 per cent, and the Nifty dropped 573.25 points or 2.38per cent.