New Delhi, March 29: The combined market valuation of seven out of India’s top 10 most valued companies declined by Rs 1.75 lakh crore in the week leading up to the holiday, reflecting a broader weakness in equity markets. Reliance Industries recorded the steepest fall during the period.
Benchmark Indices End Lower Amid Volatility
The downturn aligned with a negative trend in benchmark indices. The BSE Sensex dropped 949.74 points, or 1.27 percent, while the NSE Nifty declined by 294.9 points, also down 1.27 percent for the week.Market sentiment remained under pressure due to global uncertainties and geopolitical tensions. According to Ajit Mishra, SVP Research at Religare Broking Ltd, the week was marked by heightened volatility driven by fluctuating global cues and concerns around the Middle East situation.
He noted that early losses were triggered by fears of energy supply disruptions, a weakening rupee that touched a record low, and rising market volatility. A brief mid-week recovery followed hopes of easing US-Iran tensions, but renewed selling on Friday erased gains and pulled indices lower.
Reliance Industries Tops Weekly Value Erosion
Reliance Industries saw its market capitalization drop by Rs 89,720.3 crore, bringing its valuation to Rs 18,24,515.62 crore.HDFC Bank’s valuation declined by Rs 37,248.59 crore to Rs 11,64,018.69 crore, while State Bank of India lost Rs 35,399.42 crore, taking its market cap to Rs 9,41,569.15 crore.
ICICI Bank’s market capitalization fell by Rs 8,121.76 crore to Rs 8,83,551.30 crore. Bharti Airtel also recorded a decline of Rs 2,480.42 crore, with its valuation at Rs 10,50,413.33 crore.
Hindustan Unilever and Tata Consultancy Services registered smaller declines. HUL’s valuation dropped by Rs 2,091.13 crore to Rs 4,87,540.19 crore, while TCS slipped by Rs 271.35 crore to Rs 8,64,668.65 crore.
Select Stocks Buck Trend with Gains
Despite the broader sell-off, three companies in the top 10 list posted gains during the week.Larsen and Toubro added Rs 18,051.68 crore to reach a market valuation of Rs 4,90,536.19 crore. Bajaj Finance gained Rs 8,680.36 crore, taking its valuation to Rs 5,25,395.48 crore. Infosys also advanced, adding Rs 6,245.3 crore to Rs 5,15,034.67 crore.
Ranking of Most Valued Companies Remains Unchanged
Reliance Industries continued to hold its position as the most valued company in India. It was followed by HDFC Bank, Bharti Airtel, State Bank of India, ICICI Bank, Tata Consultancy Services, Bajaj Finance, Infosys, Larsen and 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.
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