Market cap of India's top 5 firms down ₹1L crore
What's the story
The combined market capitalization of five out of the top 10 most-valued companies in India, including HDFC Bank, ICICI Bank,Tata Consultancy Services (TCS), Bajaj Finance, and Hindustan Unilever, fell by over ₹1 lakh crore last week. The BSE Sensex and NSE Nifty ended the week on a flat note with a negative bias. HDFC Bank suffered the most with its valuation falling by over ₹56,000 crore.
Market trends
Ajit Mishra on market performance
Ajit Mishra, SVP of Research at Religare Broking Ltd, said the markets ended last week on a largely flat note with a negative bias. He explained that this reflected underlying caution among participants. Despite a positive tone in the first three sessions, Thursday's sharp decline erased gains and led to a volatile final session.
Valuation drop
Companies that suffered the most
HDFC Bank's market capitalization fell by ₹56,124.48 crore to ₹12,01,267.28 crore last week. Hindustan Unilever's valuation also dropped by ₹18,009.62 crore to ₹4,89,631.32 crore, while Bajaj Finance lost ₹15,338.42 crore bringing its value down to ₹5,16,715.12 crore. The market capitalization of TCS declined by ₹7,127.63 crore, while ICICI Bank's value edged lower by ₹6,171.72 crore last week alone.
Market winners
Companies that gained the most
Despite the losses, some companies witnessed a surge in their market capitalization. Reliance Industries saw its valuation jump by ₹45,942.75 crore to ₹19,14,235.92 crore last week. Bharti Airtel's market capitalization also surged by ₹24,462.03 crore, while State Bank of India's value climbed by over ₹10,000 crore during this period.