The combined market capitalisation of five of India’s 10 most valued companies fell by more than Rs 1 lakh crore last week, as domestic equities remained under pressure amid elevated crude oil prices, geopolitical uncertainty and mixed global cues, according to a PTI report.
IT major Tata Consultancy Services (TCS) suffered the biggest decline in market valuation among the top 10 companies, followed by Reliance Industries and State Bank of India (SBI).
The broader market also ended the week in the red. The BSE Sensex declined 489.92 points, or 0.62%, while the NSE Nifty fell 204.65 points, or 0.83%.
“Markets ended the week lower as elevated crude oil prices, renewed geopolitical uncertainty and mixed global cues weighed on investor sentiment,” Ajit Mishra, SVP, Research, Religare Broking Ltd, said, as quoted by PTI.
TCS, Reliance and SBI lead losses
TCS recorded the sharpest erosion in market value among the top 10 firms. Its market capitalisation declined by Rs 34,263.28 crore during the week to Rs 8,53,506.85 crore. Reliance Industries, India’s most valued company, saw its market value fall by Rs 31,869.13 crore to Rs 17,70,056.06 crore.
SBI, meanwhile, was the third-biggest loser, with its market capitalisation declining by Rs 25,891.88 crore to Rs 9,85,829.96 crore.
The valuation of HDFC Bank fell by Rs 7,165.37 crore to Rs 11,20,802.10 crore, while ICICI Bank lost Rs 2,792.65 crore, taking its market capitalisation to Rs 10,17,577.98 crore. The combined erosion across these five companies amounted to roughly Rs 1.02 lakh crore.
Five companies buck the trend
The decline among the five companies was partly offset by gains recorded by the remaining five firms in the top-10 list.
LIC emerged as the biggest gainer, adding Rs 26,438.49 crore to its market value. Its market capitalisation rose to Rs 5,23,330.31 crore.
Bharti Airtel also recorded a strong increase, with its valuation rising by Rs 20,592.13 crore to Rs 12,43,016.11 crore.
Bajaj Finance added Rs 3,548.79 crore, taking its market capitalisation to Rs 6,77,197.34 crore.
The valuation of Larsen & Toubro increased by Rs 2,490.66 crore to Rs 5,58,973.11 crore.
Hindustan Unilever added another Rs 2,079.38 crore, with its market value reaching Rs 4,90,888.35 crore. Together, these five companies added Rs 55,149.45 crore in market capitalisation during the week.
Reliance retains top spot
Despite losing more than Rs 31,000 crore in market value, Reliance Industries remained India’s most valued domestic company. It was followed by Bharti Airtel, HDFC Bank, ICICI Bank, SBI, TCS, Bajaj Finance, Larsen & Toubro, LIC and Hindustan Unilever, according to PTI.
(This article provides a routine summary of weekly market capitalisation movements and index performance based on verified exchange data and wire agency reporting (PTI). It contains straight news reporting on large-cap corporate valuations and general market trends without offering direct stock recommendations, buy/sell calls, or target price projections. Readers are advised to evaluate their overall investment goals and consult a SEBI-registered financial advisor before making market decisions based on short-term price fluctuations.)