The combined market valuation of all top 10 most valued companies fell by ₹4,95,061 crore last week, in line with a bearish trend in equities, with Tata Consultancy Services and Reliance Industries facing the sharpest erosion.
Last week, the benchmark BSE fell 4,091.53 points or 4.98 percent.
“The Indian stock market recorded its steepest weekly decline since June 2022, with the Nifty losing 4.77 percent. The week started with the US Federal Reserve announcement, which significantly changed market sentiment,” said Pravesh Gour, senior technical analyst at Swastika Investmart Ltd.
“Under Chairman Jerome Powell, the Federal Reserve has revised its outlook to just two rate cuts in 2025 instead of the previously expected four. This policy change has dampened market confidence,” Gour added.
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The market capitalization (mcap) of Tata Consultancy Services (TCS) fell by ₹ 1,10,550.66 crore to ₹ 15,08,036.97 crore.
Reliance Industries’ valuation fell by ₹91,140.53 crore to ₹16,32,004.17 crore.
HDFC Bank’s market valuation fell by ₹76,448.71 crore to ₹13,54,709.35 crore and Bharti Airtel’s fell by ₹59,055.42 crore to ₹8,98,786.98 crore.
State Bank of India’s mcap fell by ₹43,909.13 crore to ₹7,25,125.38 crore and that of ICICI Bank fell by ₹41,857.33 crore to ₹9,07,449.04 crore.
Infosys’ valuation fell by ₹32,300.2 crore to ₹7,98,086.90 crore and that of Life Insurance Corporation of India (LIC) fell by ₹20,050.25 crore to ₹5,69,819.04 crore.
Hindustan Unilever’s mcap fell by ₹12,805.27 crore to ₹5,48,617.81 crore and that of ITC fell by ₹6,943.5 crore to ₹5,81,252.32 crore.
In the ranking of the top 10 companies, Reliance Industries retained the most valued firm title, followed by TCS, HDFC Bank, ICICI Bank, Bharti Airtel, Infosys, State Bank of India, ITC, LIC and Hindustan Unilever.
