The combined market capitalisation of six out of the ten most valued Indian companies dropped by ₹94,433.12 crore last week, reflecting the overall bearish sentiment in the equity markets.
Tata Consultancy Services (TCS) and Reliance Industries were the hardest hit as the BSE benchmark index fell by 742.74 points, or 0.90%.
Reliance Industries, HDFC Bank, TCS, Bharti Airtel, Infosys, and Hindustan Unilever all saw a decline in their market valuations. TCS recorded the steepest fall, with a drop of ₹27,334.65 crore, bringing its market value to ₹11,54,115.65 crore.
Biggest gainers and losers
Reliance Industries’ valuation shrank by ₹24,358.45 crore to ₹19,98,543.22 crore, while HDFC Bank’s mcap fell by ₹20,051.59 crore to ₹15,00,917.42 crore.
Bharti Airtel lost ₹11,888.89 crore in market value, settling at ₹10,83,998.73 crore. Hindustan Unilever and Infosys saw their valuations fall by ₹7,330.72 crore and ₹3,468.82 crore, respectively.
In contrast, four firms posted gains. State Bank of India led the gainers with an increase of ₹13,208.44 crore, reaching a market cap of ₹7,34,763.97 crore. Bajaj Finance rose by ₹5,282.15 crore, ICICI Bank added ₹3,095 crore, and LIC’s valuation went up by ₹506 crore.
Among the top-10 most valued companies, Reliance Industries remained the leader, followed by HDFC Bank, TCS, Bharti Airtel, ICICI Bank, State Bank of India, Infosys, Bajaj Finance, Hindustan Unilever, and LIC.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
