The combined market capitalisation of eight of the top 10 most valued companies fell by Rs 2,01,699.77 crore last week, reflecting weak trends in the equity market. Reliance Industries and Tata Consultancy Services (TCS) were the major contributors to this decline.
The Bombay Stock Exchange (BSE) benchmark index dropped by 1,181.84 points, or 1.43%, over the past week. Reliance Industries saw its market value decline by Rs 60,824.68 crore, settling at Rs 19,82,282.42 crore. TCS’s valuation decreased by Rs 34,136.66 crore to Rs 16,12,762.51 crore.
Other notable declines include State Bank of India (SBI), which lost Rs 29,495.84 crore, bringing its valuation to Rs 6,98,440.13 crore. Bharti Airtel’s market cap fell by Rs 28,379.54 crore to Rs 8,76,207.58 crore. Infosys experienced a decrease of Rs 17,061.44 crore, bringing its valuation to Rs 7,89,819.06 crore, while Life Insurance Corporation of India (LIC) saw a decline of Rs 16,381.74 crore to Rs 6,57,009.14 crore.
ICICI Bank’s market cap fell by Rs 15,169.76 crore to Rs 8,51,204.65 crore, and ITC’s valuation dropped by Rs 250.11 crore to Rs 6,27,337.65 crore.
In contrast, Hindustan Unilever’s market capitalisation rose by Rs 14,179.78 crore to Rs 6,66,919.73 crore. HDFC Bank also saw an increase in its market cap, climbing by Rs 3,735.35 crore to Rs 12,47,941.78 crore.
Reliance Industries remains the most valuable domestic firm, followed by TCS, HDFC Bank, Airtel, ICICI Bank, Infosys, SBI, Hindustan Unilever, LIC, and ITC.