In a turbulent week for the stock markets, the combined market valuation of eight out of the top 10 most-valued companies plummeted by a staggering ₹1,65,784.9 crore. The bearish trend gripped equities, with Tata Consultancy Services (TCS) and Bharti Airtel among the hardest-hit firms.
Market Performance Overview
The BSE benchmark Sensex dropped 628.15 points, or 0.82%, while the Nifty 50 declined by 133.35 points, or 0.58%, over the past week. The downturn was reflected in the significant erosion of market capitalisation (mcap) across major companies.
Top Losers in Market Cap
- Tata Consultancy Services (TCS):
TCS saw the steepest decline, with its market valuation plunging by ₹53,185.89 crore to ₹13,69,717.48 crore. - Bharti Airtel:
The telecom giant’s mcap dropped by ₹44,407.77 crore, settling at ₹9,34,223.77 crore. - ICICI Bank:
ICICI Bank’s valuation tumbled by ₹18,235.45 crore to ₹8,70,579.68 crore. - Hindustan Unilever:
The FMCG major’s mcap fell by ₹17,962.62 crore to ₹5,26,684.38 crore. - Infosys:
Infosys faced an erosion of ₹17,086.61 crore, bringing its market valuation to ₹7,53,700.15 crore. - ITC:
ITC’s mcap declined by ₹11,949.42 crore to ₹5,01,750.43 crore. - HDFC Bank:
HDFC Bank’s valuation diminished by ₹2,555.53 crore to ₹12,94,152.82 crore. - State Bank of India (SBI):
SBI’s mcap saw a marginal decline of ₹401.61 crore, settling at ₹6,43,955.96 crore.
Gainers Amid the Slump
While most companies faced losses, a few managed to buck the trend:
- Reliance Industries:
Reliance Industries emerged as a standout performer, with its mcap jumping by ₹14,547.3 crore to ₹16,61,369.42 crore. - Bajaj Finance:
Bajaj Finance added ₹384.33 crore to its valuation, reaching ₹5,20,466.75 crore.
Top 10 Most-Valued Firms
Reliance Industries retained its position as the most-valued firm, followed by TCS, HDFC Bank, Bharti Airtel, ICICI Bank, Infosys, State Bank of India, Hindustan Unilever, Bajaj Finance, and ITC.
Market Outlook
The bearish sentiment in the markets has raised concerns among investors, with global economic uncertainties and domestic factors contributing to the volatility. Analysts are closely monitoring the situation to gauge whether the trend will persist or if a recovery is on the horizon.
Stay tuned for further updates on market trends and their impact on India’s top companies.
