Seven of India’s 10 most valuable companies saw their combined market capitalization fall by Rs 1.54 lakh crore last week, with Reliance Industries recording the biggest decline. The losses came during the holiday-shortened trading week, with the BSE Sensex falling 639.61 points, or 0.84%, while the NSE Nifty fell 171.55 points, or 0.72%.Among the top 10 companies in the country by market capitalization, Reliance Industries, HDFC Bank, Bharti Airtel, ICICI Bank, Tata Consultancy Services (TCS), Bajaj Finance and Hindustan Unilever saw a decline in their valuations. On the other hand, shares of State Bank of India, Larsen & Toubro and Life Insurance Company of India (LIC) recorded gains.Reliance Industries recorded the biggest decline, with its market capitalization falling by Rs 46,078.3 crore to Rs 17,87,039.40 crore.HDFC Bank’s valuation fell by Rs 33,333.06 crore, taking its market capitalization to Rs 11,46,641.84 crore.Bharti Airtel lost Rs 25,408.96 crore on valuation, ending the week with a market capitalization of Rs 11,14,886.53 crore. TCS also saw a sharp decline, with its valuation falling by Rs 22,920.58 crore to Rs 8,15,480.75 crore.Hindustan Unilever’s market capitalization fell by Rs 13,169.46 crore to Rs 5,04,210.54 crore.
Bajaj Finance offloaded Rs 7,253.24 crore in valuation, taking its market capitalization to Rs 5,63,262.33 crore, while ICICI Bank’s valuation fell by Rs 6,311.41 crore to Rs 9,00,589.91 crore.On the winning side, Larsen & Toubro added Rs 20,608.43 crore, taking the market capitalization to Rs 5,60,836.64 crore.State Bank of India saw its valuation rise by Rs 13,753.62 crore to Rs 8,89,831.54 crore, while Life Insurance Corporation (LIC) added Rs 6,040.37 crore, taking its market capitalization to Rs 5,20,484.06 crore.Despite the weekly decline, Reliance Industries maintained its position as India’s most valuable company. It was followed by HDFC Bank, Bharti Airtel, ICICI Bank, State Bank of India, TCS, Bajaj Finance, Larsen & Toubro, LIC and Hindustan Unilever.(Disclaimer: Recommendations, opinions regarding stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times Of India)
