The combined market valuation of six of the top-10 most valued firms declined by ₹64,734.46 crore in a holiday-shortened last week, with Bharti Airtel taking the biggest hit, reflecting the broader weakness in the equities market.
Last week, the BSE benchmark declined 263.67 points, or 0.35 per cent, and the NSE Nifty fell 106.5 points, or 0.46 per cent.
“Markets ended lower for the sixth consecutive week, declining by nearly half a per cent, reflecting heightened volatility driven by a mix of global and domestic uncertainties.
“The holiday-shortened week began on a weak note as escalating US-Iran tensions and a sharp rise in crude oil prices weighed on sentiment, triggering broad-based selling pressure,” Ajit Mishra, SVP, Research, Religare Broking Ltd, said.
However, markets staged a mid-week recovery supported by easing geopolitical concerns and softer oil prices, he added.
“Despite this rebound, volatility remained elevated due to fluctuating global cues, continued foreign institutional outflows, rupee weakness, and inflation concerns, Mishra said.
The market valuation of eroded by ₹29,993.07 crore to ₹10,20,420.26 crore.
ICICI Bank’s valuation tanked by ₹12,845.81 crore to ₹8,70,705.49 crore.
Bajaj Finance lost ₹11,169.36 crore from its market valuation, which stood at ₹5,14,226.12 crore.
The market capitalisation (mcap) of HDFC Bank dropped by ₹7,822.79 crore to ₹11,56,195.90 crore, and that of Hindustan Unilever’s mcap declined by ₹2,349.59 crore to ₹4,85,190.60 crore.
market capitalisation diminished by ₹553.84 crore to ₹9,41,015.31 crore.
In sharp contrast, the market valuation of Tata Consultancy Services (TCS) surged by ₹22,359.78 crore to ₹8,87,028.43 crore.
The mcap of Infosys soared by ₹12,374.76 crore to ₹5,27,409.43 crore, and that of Larsen & Toubro added ₹6,575.43 crore to ₹4,97,111.62 crore.
The market valuation of Reliance Industries gained ₹3,518.45 crore to ₹18,28,034.07 crore.
Reliance Industries retained the title of the most valued firm, followed by HDFC Bank, Bharti Airtel, State Bank of India, Tata Consultancy Services Ltd, ICICI Bank, Infosys, Bajaj Finance, Larsen & Toubro, and Hindustan Unilever.