Market Capitalization of Four Top-10 Valued Companies Declines by ₹1 Lakh Crore
Market Valuation of Top Firms Erodes by ₹1 Lakh Crore Amid Range-Bound Trend
The Indian equity market witnessed a volatile and range-bound week, with sentiment remaining cautious despite intermittent recovery attempts. The BSE benchmark Sensex climbed 414.69 points or 0.53 per cent, while the NSE Nifty went up by 178.6 points or 0.74 per cent. However, the combined market valuation of four of the top-10 most valued firms eroded by ₹1 lakh crore last week.
State Bank of India Takes the Biggest Hit
The valuation of State Bank of India dropped by ₹44,722.34 crore to ₹9,41,107.62 crore, taking the biggest hit among the top-10 firms. Bharti Airtel's valuation declined by ₹31,167.1 crore to ₹11,18,055.03 crore, while Tata Consultancy Services (TCS) market capitalisation (mcap) diminished by ₹28,456.26 crore to ₹8,66,477.69 crore. Larsen & Toubro's mcap edged lower by ₹5,371.84 crore to ₹5,46,621.21 crore.
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| Firm | Market Valuation Drop (₹ Crore) | Market Valuation (₹ Crore) |
|---|---|---|
| State Bank of India | 44,722.34 | 9,41,107.62 |
| Bharti Airtel | 31,167.1 | 11,18,055.03 |
| Tata Consultancy Services | 28,456.26 | 8,66,477.69 |
| Larsen & Toubro | 5,371.84 | 5,46,621.21 |
Gainers Among Top Firms
On the other hand, Reliance Industries, HDFC Bank, ICICI Bank, Bajaj Finance, Hindustan Unilever, and Life Insurance Corporation of India (LIC) were the gainers from the pack. Together, they added ₹46,685.21 crore in market valuation. The market valuation of HDFC Bank jumped ₹15,425.09 crore to ₹12,02,699.26 crore, while Bajaj Finance surged by ₹11,486.89 crore to ₹5,94,610.02 crore. Hindustan Unilever added ₹8,763.97 crore taking its valuation to ₹5,37,562.98 crore.
| Firm | Market Valuation Gain (₹ Crore) | Market Valuation (₹ Crore) |
|---|---|---|
| HDFC Bank | 15,425.09 | 12,02,699.26 |
| Bajaj Finance | 11,486.89 | 5,94,610.02 |
| Hindustan Unilever | 8,763.97 | 5,37,562.98 |
Read also: US-Iran Tensions Spark Uptick in Oil Prices Amid Global Market Decline
Market Valuation Rankings
Reliance Industries remained the most valued firm, followed by HDFC Bank, Bharti Airtel, State Bank of India, ICICI Bank, TCS, Bajaj Finance, Larsen & Toubro, Hindustan Unilever, and LIC.
Investor Takeaway
Investors should remain cautious and monitor market trends closely.
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