Mumbai: The combined market capitalisation of seven out of India’s top-10 most valued companies fell by Rs 35,439 crore during a holiday-shortened trading week ended December 28. The decline came despite the broader market showing mild stability, with the BSE Sensex rising 112 points, or 0.13 per cent, during the week.
Muted investor sentiment and selective selling in heavyweight stocks weighed on overall valuations.
SBI Takes the Sharpest Hit
Among the top losers, State Bank of India (SBI) suffered the biggest erosion in market value. The country’s largest lender saw its market capitalisation drop by Rs 12,692 crore, bringing its total valuation down to Rs 8.92 lakh crore.
Reliance Industries, India’s most valued company, also witnessed a sharp decline, with its market value falling by Rs 8,255 crore to Rs 21.09 lakh crore.
Financials and Infra Stocks Under Pressure
Several other major companies also saw their valuations shrink. Bajaj Finance lost Rs 5,102 crore, while Larsen & Toubro saw a decline of Rs 4,003 crore. ICICI Bank’s market value slipped by Rs 2,571 crore.
The valuation of Life Insurance Corporation of India (LIC) fell by Rs 1,803 crore, and Tata Consultancy Services (TCS) lost Rs 1,013 crore during the week.
HDFC Bank, Infosys and Airtel Buck the Trend
While most heavyweights faced selling pressure, a few companies managed to post gains. HDFC Bank emerged as the biggest gainer among the top-10 firms, with its market value rising by Rs 10,127 crore to Rs 15.27 lakh crore.
Infosys added Rs 6,627 crore to its valuation, while Bharti Airtel gained Rs 5,360 crore, reflecting buying interest in select IT and telecom stocks.
Ranking of India’s Most Valued Firms
Despite the weekly fluctuations, Reliance Industries retained its position as India’s most valued company. It was followed by HDFC Bank, Bharti Airtel, TCS, ICICI Bank, SBI, Infosys, Bajaj Finance, Larsen & Toubro, and LIC.
