Market cap of five top firms falls over Rs 1 lakh crore amid flat week

The combined market capitalisation of five of India’s top-10 most-valued companies declined by Rs 1,02,771.87 crore last week, with HDFC Bank accounting for the largest share of the losses.

The decline came during a largely flat trading week for benchmark indices. The BSE Sensex fell by 30.96 points, or 0.04 per cent, while the NSE Nifty slipped 36.6 points, or 0.15 per cent.

“Markets ended the week on a largely flat note with a negative bias, reflecting underlying caution among participants. The tone remained positive during the first three sessions; however, a sharp decline on Thursday erased the gains, followed by a volatile final session,” Ajit Mishra, SVP, Research, Religare Broking Ltd, said.

Among the top-10 firms, HDFC Bank, ICICI Bank, Tata Consultancy Services (TCS), Bajaj Finance and Hindustan Unilever saw a decline in their valuations.

HDFC Bank recorded the steepest fall, with its market capitalisation dropping by Rs 56,124.48 crore to Rs 12,01,267.28 crore.

Hindustan Unilever’s valuation declined by Rs 18,009.62 crore to Rs 4,89,631.32 crore, while Bajaj Finance lost Rs 15,338.42 crore to Rs 5,16,715.12 crore.

TCS saw its market capitalisation fall by Rs 7,127.63 crore to Rs 8,64,940 crore, and ICICI Bank’s valuation edged lower by Rs 6,171.72 crore to Rs 8,91,673.06 crore.

In contrast, five firms registered gains during the week.

Reliance Industries added Rs 45,942.75 crore, taking its valuation to Rs 19,14,235.92 crore. Bharti Airtel’s market capitalisation rose by Rs 24,462.03 crore to Rs 10,52,893.75 crore.

State Bank of India gained Rs 10,707.52 crore to reach Rs 9,76,968.57 crore.

Life Insurance Corporation of India (LIC) saw its valuation increase by Rs 2,624.88 crore to Rs 4,91,610.45 crore, while Infosys added Rs 2,473.79 crore to Rs 5,08,789.37 crore.

Reliance Industries remained the most-valued company, followed by HDFC Bank, Bharti Airtel, State Bank of India, ICICI Bank, TCS, Bajaj Finance, Infosys, LIC and Hindustan Unilever Ltd.