The combined market valuation of five of the top-10 most valued firms eroded by ₹1 lakh crore last week, with IT bellwether TCS taking the biggest hit. According to reports from The Hindu BusinessLine, Business Standard, The Economic Times, and PTI, the market cap of TCS eroded by ₹34,263.28 crore to ₹8,53,506.85 crore. Reliance Industries saw its valuation decline by ₹31,869.13 crore to ₹17,70,056.06 crore, while State Bank of India dropped by ₹25,891.88 crore to ₹9,85,829.96 crore. The banking sector faced significant pressure with HDFC Bank losing ₹7,165.37 crore in market cap to reach ₹11,20,802.10 crore, and ICICI Bank declining by ₹2,792.65 crore to ₹10,17,577.98 crore.
The banking sector faced significant pressure with HDFC Bank losing ₹7,165.37 crore in market cap to reach ₹11,20,802.10 crore, and ICICI Bank declining by ₹2,792.65 crore to ₹10,17,577.98 crore. As reported by The Hindu BusinessLine, Business Standard, The Economic Times, and PTI, these declines contributed to the overall market cap erosion among the top-10 firms. The banking sector's performance reflected broader investor concerns about the financial services sector during the week.
The decline occurred against a backdrop of bearish trends in domestic equities, with the BSE Sensex declining 489.92 points or 0.62% and the NSE Nifty dipping 204.65 points or 0.83% last week. According to Ajit Mishra, SVP Research at Religare Broking Ltd, as reported by PTI, markets ended the week lower due to elevated crude oil prices, renewed geopolitical uncertainty and mixed global cues weighing on investor sentiment. The market weakness was broad-based, affecting multiple sectors and market segments.
Despite the overall decline, five firms from the top-10 pack emerged as winners, adding ₹55,149.45 crore in market valuation. LIC led the gains with its market cap jumping ₹26,438.49 crore to ₹5,23,330.31 crore, followed by Bharti Airtel which surged ₹20,592.13 crore to ₹12,43,016.11 crore. Bajaj Finance climbed ₹3,548.79 crore to ₹6,77,197.34 crore, while Larsen & Toubro added ₹2,490.66 crore to reach ₹5,58,973.11 crore. Hindustan Unilever rounded out the gainers with an increase of ₹2,079.38 crore to ₹4,90,888.35 crore.
Following the week's performance, Reliance Industries remains the most valued domestic firm, followed by Bharti Airtel, HDFC Bank, ICICI Bank, State Bank of India, TCS, Bajaj Finance, Larsen & Toubro, LIC and Hindustan Unilever. As reported by The Hindu BusinessLine, Business Standard, The Economic Times, and PTI, this ranking reflects the current market capitalisation of these companies after the week's trading activity, with Reliance Industries maintaining its position despite the erosion in its valuation. The market capitalisation data from Business Standard confirms the valuation figures across all top-10 firms.
