Mumbai: Indian equity markets saw a subdued performance during the holiday-shortened week, with benchmark indices posting only marginal gains. The BSE Sensex edged up just 112.09 points, or 0.13 per cent, reflecting cautious investor sentiment and limited trading activity.
Bajaj Finance Among Major Losers
Bajaj Finance emerged as one of the prominent laggards of the week. The company’s market capitalisation declined by Rs 5,102.43 crore, bringing its total valuation down to Rs 6,22,124.01 crore. Weak sentiment around select financial stocks and profit-booking weighed on the stock.
Top-10 Firms Lose Big in Value
Overall, seven out of India’s top-10 most valued companies saw their combined market capitalisation fall by Rs 35,439.36 crore. This decline highlights the cautious mood in the market, despite the broader indices holding steady.
SBI Takes the Biggest Hit
State Bank of India suffered the steepest erosion in market value. Its valuation dropped sharply by Rs 12,692.1 crore to Rs 8,92,046.88 crore, making it the worst performer among the top-10 firms for the week.
Other Heavyweights See Declines
Larsen & Toubro also witnessed a fall in valuation, losing Rs 4,002.94 crore to settle at Rs 5,56,436.22 crore. ICICI Bank’s market capitalisation slipped by Rs 2,571.39 crore to Rs 9,65,669.15 crore. Life Insurance Corporation of India saw its valuation decline by Rs 1,802.62 crore, while Tata Consultancy Services lost Rs 1,013.07 crore during the week.
Select Stocks Buck the Trend
Not all companies ended the week in the red. HDFC Bank stood out with a strong gain of Rs 10,126.81 crore, taking its market value to Rs 15,26,765.44 crore. Infosys added Rs 6,626.62 crore, while Bharti Airtel gained Rs 5,359.98 crore, reflecting selective buying in defensive and technology stocks.
Top-10 List Remains Unchanged
Despite weekly fluctuations, the composition of India’s top-10 most valued companies remained intact, led by HDFC Bank, followed by Bharti Airtel, TCS, ICICI Bank, SBI, Infosys, Bajaj Finance, L&T and LIC.
Technical View on Nifty
Market experts said sentiment remains positive as long as the Nifty holds above the 26,000–25,800 support zone. Resistance is seen near 26,200 and 26,500, while a break below 25,800 could trigger short-term selling pressure.
