Market cap of India's top 8 companies down ₹1.55L crore
What's the story
The combined market capitalization of eight out of India's top 10 companies fell by ₹1.55 lakh crore last week. The major contributors to this decline were HDFC Bank and Bajaj Finance. The overall market capitalization of BSE-listed companies also witnessed a significant drop, falling by over ₹20 lakh crore over four sessions.
Major losers
Major decline in market capitalization for HDFC Bank, Bajaj Finance
HDFC Bank's market capitalization fell by ₹55,506.95 crore to ₹10,67,121.12 crore last week. Its shares fell 5% during the period.
Bajaj Finance also witnessed a major loss with its valuation eroding by ₹34,180.51 crore to ₹5,77,146.21 crore.
Reliance Industries and LIC also saw their valuations drop significantly over the same period under review.
Additional losses
Bharti Airtel, SBI also witness significant valuation drops
Among other top 10 listed companies, Bharti Airtel's market capitalization fell by ₹9,360.75 crore to ₹11,79,454.70 crore last week.
State Bank of India's valuation also took a hit with a fall of ₹4,338.46 crore to ₹8,83,384.38 crore during the period under review.
Infosys and ICICI Bank were other major players who witnessed a decline in their respective market capitalizations over the same period under review.
Market cap gains
TCS, L&T buck the trend with valuation gains
In contrast to the overall market trend, Tata Consultancy Services (TCS) and Larsen & Toubro (L&T) were the only top firms to witness valuation gains.
TCS's valuation jumped by ₹23,517.56 crore to ₹9,14,652.52 crore last week, while L&T's market capitalization climbed by ₹1,788.66 crore to reach ₹5,01,513.72 crore during the same period.