The combined market capitalisation of five of the top-10 most valued domestic firms declined by around Rs 1 lakh crore last week, with information technology major Tata Consultancy Services (TCS) witnessing the sharpest erosion, amid a weak trend in the broader equity market.
The combined valuation decline came as domestic equities remained under pressure due to elevated crude oil prices, renewed geopolitical uncertainties and mixed global cues. During the week, the BSE benchmark Sensex fell 489.92 points, or 0.62 per cent, while the NSE Nifty declined 204.65 points, or 0.83 per cent.
"Markets ended the week lower as elevated crude oil prices, renewed geopolitical uncertainty and mixed global cues weighed on investor sentiment," Ajit Mishra, Senior Vice President, Research, Religare Broking Ltd, said.
Among the top-10 most valued companies, Reliance Industries, HDFC Bank, ICICI Bank, State Bank of India and TCS recorded a decline in their market valuations. Together, the five companies witnessed a significant erosion in market capitalisation during the week.
TCS suffered the biggest decline among the top-10 firms, with its market valuation falling by Rs 34,263.28 crore to Rs 8,53,506.85 crore. The decline came amid weakness in the broader IT sector and continued investor caution over global economic conditions and technology spending.
Reliance Industries, the country's most valued listed company, saw its market capitalisation decline by Rs 31,869.13 crore to Rs 17,70,056.06 crore. State Bank of India's valuation fell by Rs 25,891.88 crore to Rs 9,85,829.96 crore during the week.
HDFC Bank also witnessed a decline in valuation, with its market capitalisation slipping by Rs 7,165.37 crore to Rs 11,20,802.10 crore. ICICI Bank's valuation declined by Rs 2,792.65 crore to Rs 10,17,577.98 crore.
However, the losses among the top-10 firms were partly offset by gains recorded by Bharti Airtel, Bajaj Finance, Larsen & Toubro, Life Insurance Corporation of India (LIC) and Hindustan Unilever. Collectively, these five companies added Rs 55,149.45 crore to their market capitalisation.
LIC emerged as the biggest gainer among the top-10 firms during the week. Its market valuation jumped by Rs 26,438.49 crore to Rs 5,23,330.31 crore. Bharti Airtel also recorded a strong rise, with its market capitalisation increasing by Rs 20,592.13 crore to Rs 12,43,016.11 crore.
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Bajaj Finance added Rs 3,548.79 crore to its valuation, taking its market capitalisation to Rs 6,77,197.34 crore. Larsen & Toubro gained Rs 2,490.66 crore, with its valuation rising to Rs 5,58,973.11 crore.
The market capitalisation of Hindustan Unilever increased by Rs 2,079.38 crore to Rs 4,90,888.35 crore. Despite the weekly fluctuations, Reliance Industries retained its position as the most valued domestic firm by market capitalisation. It was followed by Bharti Airtel, HDFC Bank, ICICI Bank, State Bank of India, TCS, Bajaj Finance, Larsen & Toubro, LIC and Hindustan Unilever.
The movement in the valuations of these companies reflected the broader volatility in domestic equities, with investors closely tracking global developments, crude oil prices, geopolitical risks and corporate earnings prospects. The performance of heavyweight stocks also remained a key factor influencing the benchmark indices during the week.
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