The US administration’s flip-flop on trade talks and increased tariff rate announcements to multiple countries, along with a lack of enthusiasm over Q1 earnings led to the Indian stock markets tumbling by almost 932 points or 1.11 per cent.
As a result, the market capitalisation of almost eight of the top ten stocks also dropped, incurring losses of almost ₹2.07 lakh crore.
From the top 10, only Bajaj Finance and Hindustan Unilever closed the week with gains in their valuation.
Among the major losers, the market valuation of Tata Consultancy Services (TCS) tumbled ₹56,279.35 crore to ₹11,81,450.30 crore after shares of TCS dropped nearly 3.50 per cent on Friday after its June quarter earnings failed to enthuse investors.
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Bharti Airtel's valuation eroded by ₹54,483.62 crore to ₹10,95,887.62 crore.
The market valuation of Reliance Industries dropped by ₹44,048.2 crore to ₹20,22,901.67 crore, and that of Infosys by ₹18,818.86 crore to ₹6,62,564.94 crore.
The market capitalisation (mcap) of ICICI Bank tanked ₹14,556.84 crore to ₹10,14,913.73 crore. The valuation of Life Insurance Corporation of India (LIC) diminished by ₹11,954.25 crore to ₹5,83,322.91 crore.
The mcap of HDFC Bank declined by ₹4,370.71 crore to ₹15,20,969.01 crore and that of State Bank of India went lower by ₹2,989.75 crore to ₹7,21,555.53 crore.
However, the valuation of Hindustan Unilever Ltd jumped ₹42,363.13 crore to ₹5,92,120.49 crore. Shares of Hindustan Unilever Ltd (HUL) on Friday surged nearly 5 per cent after the company announced that Priya Nair will become its first woman CEO and MD.
The mcap of Bajaj Finance climbed ₹5,033.57 crore to ₹5,80,010.68 crore.
Reliance Industries was the most valued firm, followed by HDFC Bank, TCS, Bharti Airtel, ICICI Bank, State Bank of India, Infosys, LIC, Bajaj Finance and Hindustan Unilever in that order.
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