Market cap of India's top 6 companies down by ₹94,430cr
What's the story
The combined market capitalization of six out of the top 10 most valuable companies in India fell by ₹94,433.12 crore last week. The decline was led by Tata Consultancy Services (TCS) and Reliance Industries, reflecting a bearish trend in equities. The BSE benchmark Sensex also witnessed a fall of 742.74 points or 0.90% during the same period.
Market impact
TCS, Reliance, and HDFC Bank take biggest hits
TCS's market capitalization took the biggest hit among top 10 firms, falling by ₹27,334.65 crore to ₹11,54,115.65 crore. Reliance Industries also witnessed a major decline in its valuation by ₹24,358.45 crore to ₹19,98,543.22 crore during this period. HDFC Bank's market cap fell sharply by ₹20,051.59 crore to ₹15,00,917.42 crore last week amid the overall bearish trend in equities trading on Dalal Street.
Valuation drop
Bharti Airtel, Infosys, and Hindustan Unilever among top losers
Apart from TCS, Reliance Industries, and HDFC Bank, other top firms such as Bharti Airtel, Infosys, and Hindustan Unilever also witnessed a fall in their market valuations. Bharti Airtel's mcap fell by ₹11,888.89 crore to ₹10,83,998.73 crore, while Infosys's valuation dropped by ₹3,468.82 crore to ₹6,59,096.12 crore during the same period last week. Hindustan Unilever's market capitalization also fell by ₹7,330.72 crore to ₹5,84,789.77 crore.
Market gainers
SBI, Bajaj Finance, and ICICI Bank post gains
Despite the overall bearish trend in equities trading, some companies managed to post gains. The market capitalization of State Bank of India (SBI) surged by ₹13,208.44 crore to ₹7,34,763.97 crore last week. Bajaj Finance's mcap jumped by ₹5,282.15 crore to ₹5,85,292.83 crore during this period, while ICICI Bank added a whopping ₹3,095 crore, taking its valuation to ₹10,18,008.73 crore.