The combined market capitalisation of seven of India’s ten most valuable companies declined by Rs 1.25 lakh crore last week, with Reliance Industries suffering the steepest fall, amid a broadly weak sentiment in equity markets.
Benchmark indices also reflected the cautious mood among investors. The BSE Sensex dropped 532.4 points, or 0.71 per cent, while the NSE Nifty 50 slipped 181.05 points, or 0.76 per cent over the week.
Santosh Meena, Head of Research at Swastika Investmart Ltd, said continued selling by foreign institutional investors (FIIs) remained the key factor dragging down market sentiment. This pressure persisted despite some positive cues, such as easing crude oil prices and a strengthening rupee against the US dollar. Additionally, worries about the pace of the monsoon’s progress weighed on investor confidence.
Among the top-10 firms by market value, several major companies saw declines in their valuations. These included Reliance Industries, Bharti Airtel, Tata Consultancy Services, Bajaj Finance, Larsen & Toubro, Life Insurance Corporation of India, and Hindustan Unilever. Meanwhile, HDFC Bank, ICICI Bank, and State Bank of India registered gains.
Reliance Industries saw the biggest erosion, with its market capitalisation falling by Rs 39,718 crore to Rs 17,47,321.40 crore. Tata Consultancy Services followed with a decline of Rs 20,134.66 crore, bringing its valuation to Rs 7,95,346.09 crore.
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Bharti Airtel lost Rs 18,736.04 crore, reducing its market value to Rs 10,96,150.49 crore, while Larsen & Toubro saw a drop of Rs 16,880.2 crore to Rs 5,43,956.44 crore. The valuation of Life Insurance Corporation of India declined by Rs 14,610.74 crore to Rs 5,05,873.32 crore.
Bajaj Finance also recorded a fall of Rs 9,681.36 crore, taking its market capitalisation to Rs 5,53,580.97 crore. Meanwhile, Hindustan Unilever saw its valuation decrease by Rs 5,909.23 crore to Rs 4,98,301.31 crore.
On the gaining side, State Bank of India emerged as the top performer, adding Rs 12,692.09 crore to reach a market cap of Rs 9,02,523.63 crore. ICICI Bank rose by Rs 4,484.86 crore to Rs 9,05,074.77 crore, while HDFC Bank gained Rs 4,101.47 crore, pushing its valuation to Rs 11,50,743.31 crore.
Despite the overall decline, Reliance Industries retained its position as India’s most-valued company. It was followed by HDFC Bank, Bharti Airtel, ICICI Bank, State Bank of India, Tata Consultancy Services, Bajaj Finance, Larsen & Toubro, Life Insurance Corporation of India, and Hindustan Unilever in the rankings.
Reliance Industries continued to lead the list of the country’s most valuable firms, ahead of HDFC Bank, Bharti Airtel, ICICI Bank, State Bank of India, TCS, Bajaj Finance, Larsen & Toubro, LIC, and Hindustan Unilever.
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