Financial Turmoil: How Rs 65,656 Crore Slipped Away from the Top 10 Companies' Mcap!
Last week, the combined market valuation of seven out of the top 10 most-valued firms in India decreased by Rs 65,656.36 crore. Reliance Industries experienced the largest decline in market valuation. The overall trend in the domestic stock market was muted, with the BSE benchmark gaining only 45.42 points (0.07%) and the Nifty climbing 34.75 points (0.18%).
Among the laggards, Reliance Industries, Tata Consultancy Services (TCS), HDFC Bank, ICICI Bank, ITC, Infosys, and HDFC saw a decrease in their market valuations. On the other hand, Hindustan Unilever, State Bank of India, and Bharti Airtel witnessed an increase in their market valuations.
Reliance Industries' market valuation decreased by Rs 34,910.54 crore to reach Rs 16,60,923.11 crore. ICICI Bank's valuation tumbled by Rs 9,355.65 crore to Rs 6,55,197.93 crore, and Infosys' valuation fell by Rs 7,739.51 crore to Rs 5,38,923.48 crore. TCS saw a decline of Rs 7,684.01 crore in its market capitalization, bringing it down to Rs 12,10,414.19 crore. HDFC Bank's valuation dived by Rs 5,020.13 crore to Rs 8,97,722.23 crore. ITC's valuation dipped by Rs 621.4 crore to reach Rs 5,50,809.75 crore, and HDFC's valuation went lower by Rs 325.12 crore to Rs 4,88,141.04 crore. However, Hindustan Unilever added Rs 15,213.6 crore, bringing its valuation to Rs 6,38,231.22 crore.
Bharti Airtel's market capitalization jumped by Rs 10,231.92 crore to reach Rs 4,66,263.37 crore, and State Bank of India's valuation climbed by Rs 1,204.82 crore to Rs 5,24,053.21 crore.
In the ranking of the top 10 firms, Reliance Industries retained the number one rank, followed by TCS, HDFC Bank, ICICI Bank, Hindustan Unilever, ITC, Infosys, State Bank of India, HDFC, and Bharti Airtel.