Market Capitalisation of 8 of Top-10 Firms Drops by ₹1.65 Lakh Crore: TCS, Bharti Airtel Among Top Losers

The combined market valuation of eight out of the top-10 most valued Indian firms eroded by ₹1,65,784.9 crore last week, as bearish trends in the equity market took a toll on investor sentiment. Tata Consultancy Services (TCS) bore the brunt of the decline, suffering the steepest loss among the affected firms.

During the week, the BSE benchmark index fell by 628.15 points, or 0.82%, while the Nifty dropped 133.35 points, or 0.58%, contributing to the overall decline in market capitalisation.

TCS Leads Market Capitalisation Losses 

Tata Consultancy Services (TCS) recorded the highest market capitalisation erosion, with its valuation plunging by ₹53,185.89 crore to ₹13,69,717.48 crore.

Bharti Airtel and ICICI Bank Among Major Losers 

Bharti Airtel‘s market capitalisation (mcap) suffered a major decline, dropping ₹44,407.77 crore to ₹9,34,223.77 crore. ICICI Bank also witnessed a sharp decline, losing ₹18,235.45 crore to settle at ₹8,70,579.68 crore.

Hindustan Unilever, Infosys Sees Declines 

Hindustan Unilever faced a steep decline in its valuation, with its mcap plunging by ₹17,962.62 crore to ₹5,26,684.38 crore. Infosys also saw a significant drop, losing ₹17,086.61 crore to ₹7,53,700.15 crore.

The market capitalisation of ITC eroded by ₹11,949.42 crore to ₹5,01,750.43 crore, while HDFC Bank suffered a loss of ₹2,555.53 crore, bringing its valuation to ₹12,94,152.82 crore.

State Bank of India (SBI) experienced a relatively smaller decline, with its valuation slipping by ₹401.61 crore to ₹6,43,955.96 crore.

Reliance Industries and Bajaj Finance Defy the Trend 

In contrast to the broader market trend, Reliance Industries saw an increase in its market capitalisation, gaining ₹14,547.3 crore to reach ₹16,61,369.42 crore. Bajaj Finance also managed to add ₹384.33 crore to its valuation, bringing its market cap to ₹5,20,466.75 crore.

Despite the market downturn, Reliance Industries continued to hold its position as the most valued company in India, followed by TCS, HDFC Bank, Bharti Airtel, ICICI Bank, Infosys, State Bank of India, Hindustan Unilever, Bajaj Finance, and ITC.

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