During the past week, the combined market capitalization of five out of the top 10 most valuable companies witnessed a decline of Rs 62,586.88 crore, with major IT companies Tata Consultancy Services (TCS) and Infosys facing the most significant losses. This decrease was part of a broader bearish trend in the stock market.
In the same period, the BSE benchmark index dropped by 180.74 points or 0.27 percent, while the Nifty index saw a decrease of 35.95 points or 0.18 percent.
TCS, one of the leading IT firms, saw its market valuation drop by Rs 26,308.58 crore to reach Rs 12,91,919.56 crore. Similarly, Infosys witnessed a decline of Rs 25,296.43 crore in its valuation, which stood at Rs 5,95,597.10 crore.
The market capitalization of Reliance Industries decreased by Rs 5,108.05 crore, reaching Rs 15,87,553.37 crore, and Hindustan Unilever experienced a drop of Rs 3,865.08 crore, resulting in a valuation of Rs 5,79,373.96 crore.
HDFC Bank’s market capitalization declined by Rs 2,008.74 crore, settling at Rs 11,57,145.86 crore.
On a positive note, Bajaj Finance witnessed a significant increase in its market capitalization, jumping by Rs 20,413.41 crore to reach Rs 4,73,186.41 crore. Bharti Airtel also added Rs 8,520.13 crore to its valuation, totaling Rs 5,19,279.14 crore, while ITC’s market capitalization increased by Rs 1,526.52 crore, reaching Rs 5,54,207.44 crore.
Furthermore, the valuation of ICICI Bank advanced by Rs 1,296.63 crore to Rs 6,66,728.97 crore, and State Bank of India’s market capitalization gained Rs 535.48 crore, reaching Rs 5,34,316.52 crore.
In terms of the ranking of the most valuable companies, Reliance Industries maintained its top position, followed by TCS, HDFC Bank, ICICI Bank, Infosys, Hindustan Unilever, ITC, State Bank of India, Bharti Airtel, and Bajaj Finance.