The combined market capitalisation of seven of the country’s ten most valued companies fell by Rs 35,439.36 crore in a holiday-shortened week, with State Bank of India emerging as the biggest laggard amid largely subdued equity market sentiment.
The benchmark BSE Sensex, however, managed a modest gain of 112.09 points, or 0.13 per cent, during the week.
Among the top-10 firms, Reliance Industries, Tata Consultancy Services, ICICI Bank, State Bank of India, Bajaj Finance, Larsen & Toubro and Life Insurance Corporation of India witnessed erosion in their market valuations. In contrast, HDFC Bank, Bharti Airtel and Infosys recorded gains.
State Bank of India saw the sharpest decline, with its market capitalisation tumbling Rs 12,692.1 crore to Rs 8,92,046.88 crore.
Reliance Industries’ valuation slipped by Rs 8,254.81 crore to Rs 21,09,712.48 crore, while Bajaj Finance lost Rs 5,102.43 crore, taking its market capitalisation to Rs 6,22,124.01 crore.
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Larsen & Toubro’s market value declined by Rs 4,002.94 crore to Rs 5,56,436.22 crore, and ICICI Bank’s valuation edged lower by Rs 2,571.39 crore to Rs 9,65,669.15 crore.
The market capitalisation of Life Insurance Corporation of India dropped by Rs 1,802.62 crore to Rs 5,37,403.43 crore, while Tata Consultancy Services saw its valuation dip by Rs 1,013.07 crore to Rs 11,86,660.34 crore.
On the positive side, HDFC Bank added Rs 10,126.81 crore to its market capitalisation, which rose to Rs 15,26,765.44 crore.
Infosys recorded a gain of Rs 6,626.62 crore, taking its valuation to Rs 6,87,818.84 crore, while Bharti Airtel’s market capitalisation increased by Rs 5,359.98 crore to Rs 12,00,692.32 crore.
Despite the weekly decline, Reliance Industries continued to be the country’s most valued company, followed by HDFC Bank, Bharti Airtel, Tata Consultancy Services, ICICI Bank, State Bank of India, Infosys, Bajaj Finance, Larsen & Toubro and Life Insurance Corporation of India.
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