Mumbai: The combined market capitalisation (mcap) of eight of India’s top-10 most valuable companies declined sharply last week, losing Rs 2.81 lakh crore as stock markets witnessed strong selling pressure.
The fall came as the broader market remained weak. The benchmark BSE Sensex dropped 2,368.29 points, or 2.91 percent, during the week.
Market experts said investor sentiment was affected by rising geopolitical tensions in West Asia and a sharp increase in global crude oil prices. These factors created uncertainty in global markets and led to cautious trading by investors.
SBI Suffers The Biggest Loss
Among the top-10 companies, State Bank of India recorded the largest decline in market value.
The bank’s market capitalisation fell by Rs 53,952.96 crore, bringing its total valuation to Rs 10,55,567.27 crore.
Other major banking companies also saw significant losses. The valuation of ICICI Bank dropped by Rs 46,936.82 crore to Rs 9,40,049.82 crore. Meanwhile, HDFC Bank lost Rs 46,552.3 crore, taking its market value to Rs 13,19,107.08 crore.
Other Companies Also See Sharp Decline
Several other large companies also witnessed a drop in market capitalisation.
Engineering major Larsen & Toubro saw its valuation fall by Rs 45,629.03 crore to Rs 5,43,208.36 crore.
The market value of Bajaj Finance declined by Rs 28,934.56 crore, while IT giant Tata Consultancy Services lost Rs 28,492.44 crore in valuation.
Consumer goods company Hindustan Unilever also saw its market value fall by Rs 26,350.67 crore.
Telecom major Bharti Airtel recorded a smaller decline of Rs 4,732.75 crore.
Reliance And Infosys Buck The Trend
Despite the overall decline, two companies managed to post gains during the week.
The market value of Reliance Industries increased by Rs 14,750.39 crore, reaching Rs 19,01,583.05 crore.
Similarly, IT company Infosys added Rs 3,459.99 crore to its market capitalisation.
Reliance Industries remained the most valuable company in India, followed by HDFC Bank, Bharti Airtel, State Bank of India, ICICI Bank, TCS, Bajaj Finance, Larsen & Toubro, Infosys and Hindustan Unilever.
