Last week witnessed a collective downturn in the market valuation of six out of the top-10 most valued companies, totaling a significant ₹1,73,097.59 crore. This trend was primarily driven by weak equities, evident from the BSE benchmark plummeting by 1,213.68 points or 1.64 percent during the same period. HDFC Bank faced the most substantial setback, with its market valuation plunging by ₹60,678.26 crore to ₹10,93,026.58 crore. Similarly, Life Insurance Corporation of India (LIC) experienced a notable decline of ₹43,168.1 crore, bringing its valuation down to ₹5,76,049.17 crore.
Reliance Industries also encountered a considerable erosion of ₹36,094.96 crore, resulting in its market valuation dropping to ₹19,04,643.44 crore. Additionally, ICICI Bank and State Bank of India saw declines of ₹17,567.94 crore and ₹11,780.49 crore, respectively, while ITC’s valuation dipped by ₹3,807.84 crore.
Despite the overall downturn, there were exceptions such as Hindustan Unilever, whose market valuation increased by ₹33,270.22 crore. Meanwhile, Tata Consultancy Services (TCS) saw a rise of ₹20,442.2 crore in its valuation, and Bharti Airtel rallied by ₹14,653.98 crore. Infosys also witnessed a modest increase of ₹3,611.26 crore.
Reliance Industries retained its position as the most valued company, followed by TCS, HDFC Bank, ICICI Bank, Bharti Airtel, State Bank of India, Infosys, LIC, Hindustan Unilever, and ITC.
