Seven top-10 firms lose Rs 35,439 crore in market value; SBI sees sharpest drop

The combined market capitalisation of seven of the ten most valued companies declined by Rs 35,439.36 crore during the holiday-shortened last week, with State Bank of India (SBI) emerging as the biggest laggard, reflecting a muted trend in the equity markets.

During the week, the BSE benchmark index rose 112.09 points, or 0.13 per cent.

Among the top-10 firms, Reliance Industries, Tata Consultancy Services (TCS), ICICI Bank, SBI, Bajaj Finance, Larsen & Toubro, and Life Insurance Corporation of India (LIC) witnessed a decline in their market valuations. In contrast, HDFC Bank, Bharti Airtel, and Infosys recorded gains.

The market capitalisation of State Bank of India fell by Rs 12,692.1 crore to Rs 8,92,046.88 crore, making it the biggest loser among the top-10 companies.

Reliance Industries saw its valuation drop by Rs 8,254.81 crore to Rs 21,09,712.48 crore. Bajaj Finance’s market capitalisation declined by Rs 5,102.43 crore to Rs 6,22,124.01 crore.

Larsen & Toubro recorded a fall of Rs 4,002.94 crore, taking its market valuation to Rs 5,56,436.22 crore, while ICICI Bank’s mcap edged lower by Rs 2,571.39 crore to Rs 9,65,669.15 crore.

The market valuation of Life Insurance Corporation of India decreased by Rs 1,802.62 crore to Rs 5,37,403.43 crore, and that of Tata Consultancy Services dipped by Rs 1,013.07 crore to Rs 11,86,660.34 crore.

On the gainers’ side, HDFC Bank’s market capitalisation rose by Rs 10,126.81 crore to Rs 15,26,765.44 crore.

Infosys added Rs 6,626.62 crore to take its valuation to Rs 6,87,818.84 crore, while Bharti Airtel’s market capitalisation climbed Rs 5,359.98 crore to Rs 12,00,692.32 crore.

Reliance Industries continued to be the most valued firm in the country, followed by HDFC Bank, Bharti Airtel, TCS, ICICI Bank, State Bank of India, Infosys, Bajaj Finance, Larsen & Toubro, and LIC.