New Delhi: Five of India’s top-10 most valued companies together lost around Rs 1 lakh crore in market capitalisation last week, as weakness in domestic equities weighed on major stocks.
Tata Consultancy Services (TCS) recorded the biggest decline, while Reliance Industries and State Bank of India (SBI) also suffered sizeable losses.
Markets Stay Weak
The BSE Sensex declined 489.92 points, or 0.62 per cent, during the week. The NSE Nifty dropped 204.65 points, or 0.83 per cent.
Higher crude oil prices, geopolitical uncertainty and mixed signals from global markets kept investors cautious during the week.
Among the top-10 companies, Reliance Industries, HDFC Bank, ICICI Bank, SBI and TCS saw their valuations fall.
TCS Loses Most
TCS lost Rs 34,263.28 crore in market value, bringing its total market capitalisation down to Rs 8,53,506.85 crore.
Reliance Industries followed with a decline of Rs 31,869.13 crore, reducing its valuation to Rs 17,70,056.06 crore.
SBI’s market value dropped Rs 25,891.88 crore to Rs 9,85,829.96 crore.
HDFC Bank’s valuation declined Rs 7,165.37 crore to Rs 11,20,802.10 crore.
ICICI Bank lost Rs 2,792.65 crore, taking its market capitalisation to Rs 10,17,577.98 crore.
Five Firms Gain
In contrast, Bharti Airtel, Bajaj Finance, Larsen & Toubro, LIC and Hindustan Unilever recorded gains. Together, their market value increased by Rs 55,149.45 crore.
LIC was the biggest winner, adding Rs 26,438.49 crore to reach a valuation of Rs 5,23,330.31 crore.
Bharti Airtel gained Rs 20,592.13 crore, taking its market capitalisation to Rs 12,43,016.11 crore.
Bajaj Finance added Rs 3,548.79 crore, Larsen & Toubro gained Rs 2,490.66 crore, and Hindustan Unilever added Rs 2,079.38 crore.
Reliance Industries continued to hold the top position as India’s most valued company, followed by Bharti Airtel and HDFC Bank.
