Reliance Industries Suffers Biggest Erosion in Market Capitalisation
The combined market valuation of nine of the top-10 most valued companies in India declined sharply by Rs 2.51 lakh crore over the past week, reflecting sustained weakness in domestic equities. The broader market remained under pressure throughout the week, tracking negative global cues and persistent selling.During the week, the BSE Sensex witnessed a steep fall of 2,032.65 points, marking a decline of 2.43 per cent and setting the tone for heavy erosion in large-cap stocks.
Reliance Industries Leads the Losses
Among the top firms, Reliance Industries recorded the steepest fall in market capitalisation. The company’s valuation dropped by Rs 96,960.17 crore, taking its total market value down to Rs 18,75,533.04 crore.ICICI Bank saw its market capitalisation erode by Rs 48,644.99 crore to Rs 9,60,825.29 crore, while HDFC Bank lost Rs 22,923.02 crore, with its valuation slipping to Rs 14,09,611.89 crore.
The market value of Bharti Airtel declined by Rs 17,533.97 crore to Rs 11,32,010.46 crore during the same period.
IT and Financial Stocks Also Under Pressure
Technology and infrastructure majors were not spared. Tata Consultancy Services saw its market capitalisation fall by Rs 16,588.93 crore to Rs 11,43,623.19 crore, while Larsen & Toubro recorded a decline of Rs 15,248.32 crore, taking its valuation to Rs 5,15,161.91 crore.In the financial space, Bajaj Finance lost Rs 14,093.93 crore in market value to settle at Rs 5,77,353.23 crore. State Bank of India also saw its market capitalisation edge lower by Rs 11,907.5 crore to Rs 9,50,199.77 crore.
Meanwhile, Infosys experienced a decline of Rs 7,810.77 crore, with its valuation slipping to Rs 6,94,078.82 crore.
Hindustan Unilever Bucks the Trend
In contrast to the broader trend, Hindustan Unilever emerged as the sole gainer among the top-10 firms. Its market capitalisation increased by Rs 12,311.86 crore to Rs 5,66,733.16 crore during the week.Current Ranking of Top-10 Valued Firms
Despite the sharp correction, Reliance Industries continued to retain its position as the most valued company in India. It was followed by HDFC Bank, Tata Consultancy Services, Bharti Airtel, ICICI Bank, State Bank of India, Infosys, Bajaj Finance, Hindustan Unilever and Larsen & Toubro.The week’s sell-off underscores the cautious sentiment prevailing in equity markets, with investors remaining selective amid broader volatility.
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