SBI Leads Decline Despite Marginal Rise in Benchmark Indices
The combined market capitalisation of seven of the ten most valued Indian companies declined by ₹35,439.36 crore during the holiday-shortened week, reflecting a subdued trend in equities. The decline came even as the broader market posted marginal gains.During the week, the BSE benchmark index advanced by 112.09 points, marking a modest rise of 0.13 percent.
Seven Heavyweights See Valuation Erosion
Among the top-10 companies, Reliance Industries, Tata Consultancy Services, ICICI Bank, State Bank of India, Bajaj Finance, Larsen & Toubro, and Life Insurance Corporation of India witnessed a decline in their market valuations.State Bank of India recorded the steepest drop, with its market capitalisation falling by ₹12,692.1 crore to ₹8,92,046.88 crore.
Reliance Industries saw its valuation decrease by ₹8,254.81 crore to ₹21,09,712.48 crore. Bajaj Finance followed with an erosion of ₹5,102.43 crore, taking its market capitalisation to ₹6,22,124.01 crore.
Larsen & Toubro’s valuation declined by ₹4,002.94 crore to ₹5,56,436.22 crore, while ICICI Bank’s market capitalisation slipped by ₹2,571.39 crore to ₹9,65,669.15 crore.
Life Insurance Corporation of India recorded a decline of ₹1,802.62 crore to ₹5,37,403.43 crore. Tata Consultancy Services also saw its valuation dip by ₹1,013.07 crore to ₹11,86,660.34 crore.
HDFC Bank, Infosys, Bharti Airtel Post Gains
In contrast, HDFC Bank, Infosys, and Bharti Airtel emerged as the gainers during the week.HDFC Bank’s market capitalisation rose by ₹10,126.81 crore to ₹15,26,765.44 crore. Infosys added ₹6,626.62 crore, taking its valuation to ₹6,87,818.84 crore, while Bharti Airtel’s market capitalisation increased by ₹5,359.98 crore to ₹12,00,692.32 crore.
Reliance Industries Retains Top Position
Despite the weekly decline, Reliance Industries continued to be the most valued Indian company. It was followed by HDFC Bank, Bharti Airtel, Tata Consultancy Services, ICICI Bank, State Bank of India, Infosys, Bajaj Finance, Larsen & Toubro, and Life Insurance Corporation of India.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.
Last edited: