The combined market capitalisation of seven of India’s top-10 most valued companies declined by Rs 1.75 lakh crore last week, with Reliance Industries emerging as the biggest laggard amid a broader weakness in equities.
The losses came during a holiday-shortened week in which the BSE Sensex fell 949.74 points, or 1.27 per cent, while the NSE Nifty dropped 294.9 points, also down 1.27 per cent.
According to market data, Reliance Industries saw its valuation erode by Rs 89,720.3 crore to Rs 18,24,515.62 crore. HDFC Bank followed, with its market capitalisation falling by Rs 37,248.59 crore to Rs 11,64,018.69 crore.
State Bank of India lost Rs 35,399.42 crore, taking its valuation to Rs 9,41,569.15 crore, while ICICI Bank declined by Rs 8,121.76 crore to Rs 8,83,551.30 crore.
Among other laggards, Bharti Airtel shed Rs 2,480.42 crore, while Hindustan Unilever and Tata Consultancy Services recorded modest declines of Rs 2,091.13 crore and Rs 271.35 crore, respectively.
The broader market sentiment remained weak, reflecting volatility driven by global cues and geopolitical tensions in West Asia.
Also read: Mcap of top 10 firms drops ₹4.48 lakh crore in a week
“Markets ended the week on a weaker note, reflecting heightened volatility amid fluctuating global cues and escalating geopolitical tensions in the Middle East. The week was marked by sharp swings, with early losses driven by concerns over energy supply disruptions, a weakening rupee, which touched a record low, and rising volatility,” Ajit Mishra, SVP – Research, Religare Broking Ltd, said.
“This was followed by a mid-week recovery on hopes of a temporary de-escalation in US-Iran tensions. However, renewed selling pressure on Friday erased the gains, dragging indices lower,” he added.
In contrast, three companies in the top-10 pack posted gains. Larsen & Toubro saw its market valuation rise by Rs 18,051.68 crore to Rs 4,90,536.19 crore.
Bajaj Finance added Rs 8,680.36 crore, taking its valuation to Rs 5,25,395.48 crore, while Infosys gained Rs 6,245.3 crore to reach Rs 5,15,034.67 crore.
Despite the losses, Reliance Industries retained its position as the country’s most valued firm, followed by HDFC Bank, Bharti Airtel, State Bank of India, ICICI Bank, TCS, Bajaj Finance, Infosys, Larsen & Toubro and Hindustan Unilever.
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