Seven of India's ten most-valued companies experienced a combined erosion of Rs 1.54 lakh crore in their market capitalisation during the previous week, with Reliance Industries registering the steepest decline. The losses occurred in a holiday-shortened trading week, during which the BSE Sensex dropped by 639.61 points, or 0.84%, while the NSE Nifty slipped by 171.55 points, or 0.72%.
Declines Across Major Firms
Among the country's top ten firms by market value, seven companies witnessed a fall in their valuations: Reliance Industries, HDFC Bank, Bharti Airtel, ICICI Bank, Tata Consultancy Services (TCS), Bajaj Finance, and Hindustan Unilever. In contrast, State Bank of India, Larsen & Toubro, and Life Insurance Corporation of India (LIC) posted gains during the same period.
Reliance Industries Leads the Losses
Reliance Industries recorded the steepest decline, with its market capitalisation dropping by Rs 46,078.3 crore to Rs 17,87,039.40 crore. HDFC Bank's valuation fell by Rs 33,333.06 crore, bringing its market value to Rs 11,46,641.84 crore. Bharti Airtel lost Rs 25,408.96 crore, ending the week with a market capitalisation of Rs 11,14,886.53 crore.
TCS and Others See Significant Drops
TCS also saw a sharp decline, with its valuation falling by Rs 22,920.58 crore to Rs 8,15,480.75 crore. Hindustan Unilever's market value decreased by Rs 13,169.46 crore to Rs 5,04,210.54 crore. Bajaj Finance shed Rs 7,253.24 crore in valuation, taking its market capitalisation to Rs 5,63,262.33 crore, while ICICI Bank's valuation declined by Rs 6,311.41 crore to Rs 9,00,589.91 crore.
Gainers in the Week
On the gaining side, Larsen & Toubro added Rs 20,608.43 crore to reach a market capitalisation of Rs 5,60,836.64 crore. State Bank of India saw its valuation rise by Rs 13,753.62 crore to Rs 8,89,831.54 crore, while LIC added Rs 6,040.37 crore, taking its market value to Rs 5,20,484.06 crore.
Top Companies by Market Value
Despite the weekly decline, Reliance Industries retained its position as India's most-valued company. It was followed by HDFC Bank, Bharti Airtel, ICICI Bank, State Bank of India, TCS, Bajaj Finance, Larsen & Toubro, LIC, and Hindustan Unilever in the pecking order.
