New Delhi, April 5 The combined market valuation of six of the top-10 most valued companies declined by ₹64,734.46 crore in a shortened week due to the holiday period, with Bharti Airtel experiencing the biggest drop, reflecting the overall weakness in the equity market.
Last week, the BSE benchmark Sensex declined by 263.67 points, or 0.35 per cent, and the NSE Nifty fell by 106.5 points, or 0.46 per cent.
"Markets ended lower for the sixth consecutive week, declining by nearly half a per cent, reflecting heightened volatility driven by a mix of global and domestic uncertainties," said Ajit Mishra, SVP, Research, Religare Broking Ltd.
"The shortened week began on a weak note as escalating US-Iran tensions and a sharp rise in crude oil prices weighed on sentiment, triggering broad-based selling pressure," Mishra added.
However, markets staged a mid-week recovery supported by easing geopolitical concerns and softer oil prices, he noted.
"Despite this rebound, volatility remained elevated due to fluctuating global cues, continued foreign institutional outflows, rupee weakness, and inflation concerns," Mishra said.
The market valuation of Bharti Airtel declined by ₹29,993.07 crore to ₹10,20,420.26 crore.
ICICI Bank's valuation tanked by ₹12,845.81 crore to ₹8,70,705.49 crore.
Bajaj Finance lost ₹11,169.36 crore from its market valuation, which stood at ₹5,14,226.12 crore.
The market capitalization (mcap) of HDFC Bank dropped by ₹7,822.79 crore to ₹11,56,195.90 crore, and that of Hindustan Unilever's mcap declined by ₹2,349.59 crore to ₹4,85,190.60 crore.
State Bank of India's market capitalization diminished by ₹553.84 crore to ₹9,41,015.31 crore.
In sharp contrast, the market valuation of Tata Consultancy Services (TCS) surged by ₹22,359.78 crore to ₹8,87,028.43 crore.
The mcap of Infosys soared by ₹12,374.76 crore to ₹5,27,409.43 crore, and that of Larsen & Toubro added ₹6,575.43 crore to ₹4,97,111.62 crore.
The market valuation of Reliance Industries gained ₹3,518.45 crore to ₹18,28,034.07 crore.
Reliance Industries retained the title of the most valued firm, followed by HDFC Bank, Bharti Airtel, State Bank of India, Tata Consultancy Services Ltd, ICICI Bank, Infosys, Bajaj Finance, Larsen & Toubro, and Hindustan Unilever.
Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.