Top 7 Firms Lose ₹1.13 Lakh Crore In Mcap, Airtel & Reliance Take Biggest Hit
· Free Press Journal
New Delhi: The combined market capitalisation of seven of India’s 10 most-valued companies fell by ₹1.13 lakh crore last week, tracking weakness in the broader equity market.
Bharti Airtel and Reliance Industries suffered the biggest erosion in valuation.
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Markets Remain Under Pressure
During the week, the BSE Sensex declined 276.32 points, or 0.35 per cent. The NSE Nifty fell 76.35 points, or 0.31 per cent.
Equity markets remained cautious amid concerns over global interest rates, geopolitical uncertainty and volatility linked to the new closing auction session.
Markets recovered sharply on Friday, helped by buying in IT stocks following positive global technology cues. However, benchmark indices ended under pressure for a third consecutive week.
Airtel, Reliance Lose ₹40,000 Crore Each
Bharti Airtel’s market capitalisation dropped by ₹40,500.85 crore to ₹11,74,462.30 crore, making it the biggest loser among the top 10.
Reliance Industries followed closely, losing ₹40,056.32 crore in valuation to ₹17,38,119.27 crore.
HDFC Bank’s market value declined ₹11,558.35 crore to ₹11,09,600.70 crore.
Bajaj Finance lost ₹10,086.05 crore, taking its market capitalisation to ₹6,70,535.57 crore.
Larsen & Toubro’s valuation declined ₹6,473.45 crore to ₹5,55,987.49 crore.
LIC lost ₹3,162.50 crore to settle at ₹5,32,817.81 crore, while Hindustan Unilever’s valuation slipped ₹1,550.73 crore to ₹4,72,361.83 crore.
TCS Leads Gainers
Among the three gainers, Tata Consultancy Services added ₹16,643.20 crore to its market capitalisation, taking the total to ₹8,48,079.71 crore.
ICICI Bank’s valuation increased ₹4,475.28 crore to ₹10,22,805.73 crore.
State Bank of India added ₹599.99 crore, taking its market capitalisation to ₹9,65,568.75 crore.
Reliance Industries retained its position as India’s most-valued company, followed by Bharti Airtel, HDFC Bank, ICICI Bank, SBI, TCS, Bajaj Finance, Larsen & Toubro, LIC and Hindustan Unilever.