Top 7 firms lose over ₹2 lakh crore in market cap

The combined market valuation of seven of India’s top-10 most valued companies eroded by over ₹2 lakh crore last week, with Reliance Industries and Tata Consultancy Services (TCS) emerging as the biggest laggards.

The downturn came in line with a bearish trend on Dalal Street, where the Sensex plunged 1,829.33 points, or 2.33%, while the Nifty declined 455.6 points, or 1.87% during the week.

Market sentiment remained under pressure after two consecutive weeks of gains.

According to market experts, the decline was driven by rising geopolitical tensions and weak earnings commentary from IT majors.

“Global developments continued to dictate market direction, particularly the uncertainty surrounding the West Asia crisis, which has kept crude oil prices elevated amid fears of supply disruptions,” he noted.

Amid this backdrop, the combined market capitalisation of seven of the top-10 firms dropped by ₹2,05,343.06 crore.

Tata Consultancy Services saw the sharpest decline, with its valuation falling by ₹66,699.44 crore to ₹8,67,364.12 crore.

Reliance Industries followed closely, losing ₹50,670.34 crore in market value to ₹17,96,647.50 crore.

HDFC Bank’s valuation declined by ₹23,090.05 crore to ₹12,08,225.48 crore, while Life Insurance Corporation of India (LIC) saw its market cap drop by ₹19,670.75 crore to ₹5,13,020.56 crore.

Bharti Airtel also witnessed a fall of ₹19,406.59 crore, taking its valuation to ₹11,05,718.62 crore.

ICICI Bank’s market capitalisation slipped by ₹14,663.27 crore to ₹9,50,345.40 crore, and Larsen and Toubro’s valuation declined by ₹11,142.62 crore to ₹5,52,171.88 crore.

However, not all companies ended the week in the red. Hindustan Unilever added ₹20,652.91 crore to reach a valuation of ₹5,47,219.80 crore.

State Bank of India also gained ₹19,522.76 crore, pushing its market cap to ₹10,16,752.53 crore, while Bajaj Finance saw an increase of ₹8,253.64 crore to ₹5,73,690.81 crore.

Despite the weekly losses, Reliance Industries retained its position as India’s most valued company, followed by HDFC Bank, Bharti Airtel, State Bank of India, ICICI Bank, TCS, Bajaj Finance, Larsen & Toubro, Hindustan Unilever and LIC.

(This story was taken from syndicated feed and was only edited for style by Gujarat Samachar Digital team)