Nine of the top 10 most valued firms in India lost a combined market valuation of Rs 4,74,906.18 crore last week, with Reliance Industries and HDFC Bank experiencing the largest declines amid weak equity trends.
The stock market faced significant losses due to escalating tensions in the Middle East and foreign fund outflows. In a holiday-shortened week, the BSE benchmark fell by 3,883.4 points, or 4.53%.
Reliance Industries’ valuation decreased by Rs 1,88,479.36 crore to Rs 18,76,718.24 crore, while HDFC Bank’s market valuation dropped by Rs 72,919.58 crore to Rs 12,64,267.35 crore.
Other notable losses included Bharti Airtel, down Rs 53,800.31 crore to Rs 9,34,104.32 crore; ICICI Bank, down Rs 47,461.13 crore to Rs 8,73,059.59 crore; and Life Insurance Corporation of India (LIC), down Rs 33,490.86 crore to Rs 6,14,125.65 crore.
In contrast, Infosys saw an increase in market capitalization, gaining Rs 4,629.64 crore to reach Rs 7,96,527.08 crore.
Reliance remains the most valued firm, followed by Tata Consultancy Services (TCS), HDFC Bank, Bharti Airtel, ICICI Bank, Infosys, State Bank of India, Hindustan Unilever, ITC, and LIC.