Market Capitalization of Seven Top-10 Valued Firms Erodes by ₹1.54 Lakh Crore; Reliance Records Largest Decline
Market Valuation of Top 10 Firms Erodes ₹1.54 Lakh Crore
The Indian stock market witnessed a decline in the market valuation of seven out of the top 10 valued firms last week. The BSE benchmark Sensex dropped 639.61 points, or 0.84 per cent, while the NSE Nifty declined 171.55 points, or 0.72 per cent, in a holiday-shortened week.
Among the top 10 pack, Reliance Industries took the biggest hit, with its market valuation eroding by ₹46,078.3 crore to ₹17,87,039.40 crore. HDFC Bank's valuation also suffered, with a decline of ₹33,333.06 crore to ₹11,46,641.84 crore. Other firms that faced erosion in their valuations include Bharti Airtel, ICICI Bank, Tata Consultancy Services (TCS), Bajaj Finance, and Hindustan Unilever.
| Firm | Pre-Week Valuation (₹) | Post-Week Valuation (₹) | Decline (₹) |
|---|---|---|---|
| Reliance Industries | 17,93,117.70 | 17,87,039.40 | 46,078.3 |
| HDFC Bank | 11,79,974.90 | 11,46,641.84 | 33,333.06 |
| Bharti Airtel | 11,40,295.49 | 11,14,886.53 | 25,408.96 |
| TCS | 8,38,401.33 | 8,15,480.75 | 22,920.58 |
| Hindustan Unilever | 5,17,380.00 | 5,04,210.54 | 13,169.46 |
| Bajaj Finance | 5,70,515.57 | 5,63,262.33 | 7,253.24 |
| ICICI Bank | 9,06,901.32 | 9,00,589.91 | 6,311.41 |
Read also: Treasury Yields Experience Largest Increase in Two Weeks Following Release of Labor Market Data
On the other hand, Larsen & Toubro, State Bank of India, and Life Insurance Corporation of India (LIC) registered gains in their market capitalisation. Larsen & Toubro's mcap jumped ₹20,608.43 crore to ₹5,60,836.64 crore, while State Bank of India's mcap climbed ₹13,753.62 crore to ₹8,89,831.54 crore. LIC's mcap went up by ₹6,040.37 crore to ₹5,20,484.06 crore.
The market capitalisation of these firms remains as follows: Reliance Industries, HDFC Bank, Bharti Airtel, ICICI Bank, State Bank of India, TCS, Bajaj Finance, Larsen & Toubro, LIC, and Hindustan Unilever.
Investor Takeaway
Investors should be cautious of the market decline and potential impact on the top-valued firms.
More in Market
Treasury Yields Experience Largest Increase in Two Weeks Following Release of Labor Market Data
US-Iran Tensions Spark Uptick in Oil Prices Amid Global Market Decline
Indian Stocks to Watch: BHEL, Agarwal Industrial, JBM Auto, Rajesh Exports, Indian Energy Exchange, Lenskart Solutions in Market Focus on June 4.
