Intro
Weak market sentiment erased Rs 1.25 lakh crore from seven top firms as benchmark indices ended lower.
Mumbai
A weak week for Indian equities resulted in a sharp erosion in the market value of several blue-chip companies, with seven of the country’s top-10 most valued firms collectively losing nearly Rs 1.25 lakh crore in market capitalisation.
The broader market sentiment remained subdued as benchmark indices ended the week in the red. The BSE Sensex declined by 532.4 points, or 0.71 per cent, while the NSE Nifty slipped 181.05 points, or 0.76 per cent, reflecting cautious investor sentiment amid market volatility.
Reliance Industries suffered the biggest decline among the top companies. The energy-to-telecom conglomerate saw its market valuation shrink by Rs 39,718 crore, bringing its total market capitalisation down to Rs 17,47,321.40 crore. Despite the decline, Reliance retained its position as India’s most valuable listed company.
Tata Consultancy Services also recorded a significant fall, with its valuation dropping by Rs 20,134.66 crore to Rs 7,95,346.09 crore. Telecom major Bharti Airtel lost Rs 18,736.04 crore in market value, reducing its overall valuation to Rs 10,96,150.49 crore.
Engineering and infrastructure giant Larsen & Toubro witnessed a decline of Rs 16,880.2 crore in market capitalisation. Life Insurance Corporation of India also faced selling pressure, losing Rs 14,610.74 crore during the week.
In the financial services segment, Bajaj Finance recorded a loss of Rs 9,681.36 crore, while Hindustan Unilever’s valuation fell by Rs 5,909.23 crore.
However, not all major companies ended the week on a negative note. State Bank of India emerged as the biggest gainer, adding Rs 12,692.09 crore to its market capitalisation. ICICI Bank and HDFC Bank also posted gains, helping cushion broader market losses.
At the end of the week, Reliance Industries remained the most valued company, followed by HDFC Bank, Bharti Airtel, ICICI Bank and State Bank of India.