The combined market valuation of the top 10 valued companies suffered a substantial setback, plummeting by Rs 1,52,979.78 crore during the past week. This decline was predominantly influenced by an overall weak trend in the equity markets, with both Reliance Industries and Tata Consultancy Services (TCS) bearing the brunt of the losses.
In the preceding week, the BSE benchmark index witnessed a decline of 885.12 points, equivalent to 1.33 percent.
The market valuation of Reliance Industries took a hit, declining by Rs 34,876.78 crore, settling at Rs 15,55,531.53 crore. Meanwhile, the market cap of TCS also dipped by Rs 27,827.08 crore, reaching Rs 12,78,564.03 crore. Hindustan Unilever, on the other hand, saw its market valuation erode by Rs 18,103.6 crore, now standing at Rs 5,86,223.02 crore, while Bajaj Finance’s market cap fell by Rs 17,171.75 crore, ending at Rs 4,70,574.90 crore.
Furthermore, the market capitalization (mcap) of ICICI Bank witnessed a decline of Rs 13,518.4 crore, now resting at Rs 6,53,120.67 crore. Simultaneously, ITC’s mcap dropped by Rs 12,533.27 crore, closing at Rs 5,46,537.83 crore. State Bank of India’s valuation declined by Rs 11,512.75 crore, now at Rs 5,02,678.77 crore, and HDFC Bank’s market cap fell by Rs 10,387.09 crore, settling at Rs 11,54,748.49 crore.
Bharti Airtel’s mcap slipped by Rs 5,139.88 crore, ending up at Rs 5,30,896.08 crore, and Infosys witnessed a dip of Rs 1,909.18 crore in its mcap, resulting in a figure of Rs 5,92,342.82 crore.
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In the ranking of the top 10 firms, Reliance Industries retained its position as the most valued firm, followed by TCS, HDFC Bank, ICICI Bank, Infosys, Hindustan Unilever, ITC, Bharti Airtel, State Bank of India, and Bajaj Finance. This reshuffling of market valuations demonstrates the dynamism and volatility inherent in the financial markets.
