₹3 Lakh Crore Wiped Out In A Week, TCS & Infosys Lead Market Cap Fall
Six of India’s top-10 most valued companies lost over Rs 3 lakh crore in market value last week as stock markets remained weak. Tata Consultancy Services and Infosys were the biggest laggards. However, SBI, Bajaj Finance, L&T and ICICI Bank posted gains.
Six of India’s top-10 most valued companies lost over ₹3 lakh crore in market value last week as stock markets remained weak. |
Mumbai: Indian stock markets saw a weak trend last week. The BSE Sensex fell by 953.64 points, or 1.14 percent.
Due to this fall, the combined market value of six out of the top-10 most valued companies dropped by more than Rs 3 lakh crore.
IT Giants Take Biggest Hit
IT companies were the worst affected.
Tata Consultancy Services (TCS) saw its market value fall by Rs 90,198.92 crore to Rs 9,74,043.43 crore.
Infosys lost Rs 70,780.23 crore, taking its total valuation to Rs 5,55,287.72 crore.
Other companies that faced losses include:
- HDFC Bank – Down Rs 54,627.71 crore
- Reliance Industries – Down Rs 41,883 crore
- Life Insurance Corporation of India – Down Rs 23,971.74 crore
- Bharti Airtel – Down Rs 19,244.61 crore
The fall in valuations reflects investor caution and overall weakness in equities.
Some Stocks Post Gains
Despite the overall fall, four companies saw their market value rise.
State Bank of India (SBI) gained the most, adding Rs 1,22,213.38 crore to reach Rs 11,06,566.44 crore.
Other gainers include:
- Bajaj Finance – Up Rs 26,414.44 crore
- Larsen & Toubro – Up Rs 14,483.9 crore
- ICICI Bank – Up Rs 5,719.95 crore
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Most Valued Companies Ranking
Reliance Industries remained India’s most valued company. It was followed by HDFC Bank, Bharti Airtel, SBI, ICICI Bank, TCS, Bajaj Finance, Larsen & Toubro, Infosys and LIC.
Overall, the week was challenging for markets, especially for IT stocks.
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