Amid a volatile and range-bound week in the equity markets, the combined market capitalisation of four of India’s top-10 most valued companies declined by nearly Rs 1 lakh crore, with State Bank of India suffering the sharpest erosion in valuation.
During the week, the benchmark indices still managed to end in positive territory. The BSE Sensex rose 414.69 points, or 0.53 per cent, while the NSE Nifty advanced 178.6 points, or 0.74 per cent.
According to Ponmudi R, CEO of Enrich Money, investor sentiment remained cautious throughout the week despite occasional recovery attempts.
“Indian equity markets witnessed a volatile and range-bound week, with sentiment remaining cautious despite intermittent recovery attempts. Initial optimism driven by hopes of easing tensions in the Middle East and softer crude oil prices faded as fresh concerns emerged over renewed tensions between the US and Iran,” he said.
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Among the top-10 valued firms, Bharti Airtel, State Bank of India, Tata Consultancy Services and Larsen & Toubro witnessed significant declines in their market valuations.
On the other hand, Reliance Industries, HDFC Bank, ICICI Bank, Bajaj Finance, Hindustan Unilever and Life Insurance Corporation of India registered gains in market capitalisation. Collectively, these six companies added Rs 46,685.21 crore in valuation during the week.
SBI emerged as the biggest laggard among the top firms, with its market valuation plunging by Rs 44,722.34 crore to Rs 9,41,107.62 crore.
Bharti Airtel also witnessed a sharp decline, with its valuation falling by Rs 31,167.1 crore to Rs 11,18,055.03 crore.
The market capitalisation of Tata Consultancy Services (TCS) dropped by Rs 28,456.26 crore to Rs 8,66,477.69 crore, while Larsen & Toubro’s valuation slipped by Rs 5,371.84 crore to Rs 5,46,621.21 crore.
Among the gainers, HDFC Bank recorded the highest increase in valuation, adding Rs 15,425.09 crore to take its market capitalisation to Rs 12,02,699.26 crore.
Bajaj Finance followed with a gain of Rs 11,486.89 crore, pushing its valuation to Rs 5,94,610.02 crore. Hindustan Unilever added Rs 8,763.97 crore, taking its market value to Rs 5,37,562.98 crore.
Reliance Industries saw its market capitalisation rise by Rs 6,563.28 crore to Rs 19,42,866.58 crore, while LIC added Rs 2,751.37 crore to reach a valuation of Rs 5,07,549.44 crore.
ICICI Bank also posted modest gains, with its valuation increasing by Rs 1,694.61 crore to Rs 9,06,675.39 crore. At the end of the week, Reliance Industries retained its position as India’s most valued company, followed by HDFC Bank, Bharti Airtel, State Bank of India, ICICI Bank, Tata Consultancy Services, Bajaj Finance, Larsen & Toubro, Hindustan Unilever and LIC in the list of the country’s top-10 most valued firms.
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