In a week marked by the holiday season, the top ten most valuable companies in India experienced a significant decline, collectively losing ₹2,94,170.16 crore in market capitalization. Amidst a downturn in the domestic equity markets, Tata Consultancy Services (TCS) faced the largest drop, reflecting broader market trends. This past week saw the BSE Sensex plummet by 2,050.23 points (2.64%), while the NSE Nifty fell by 614.8 points (2.61%).
Major Companies Hit Hard
The losses were widespread among the leading firms, with notable declines from several industry giants:
- Tata Consultancy Services (TCS): Lost ₹1,10,351.67 crore, with a market cap now at ₹11,93,769.89 crore.
- Reliance Industries: Experienced a drop of ₹95,132.58 crore, bringing its valuation to ₹16,30,244.96 crore.
- Infosys: Saw a decrease of ₹49,050.04 crore, lowering its value to ₹6,03,178.45 crore.
Other companies that reported declines include:
- Bajaj Finance: Down by ₹14,127.07 crore to ₹5,40,588.05 crore.
- ICICI Bank: Market cap reduced by ₹9,503.66 crore, now at ₹9,43,264.95 crore.
- HDFC Bank: Fell by ₹8,800.05 crore, now valued at ₹13,90,408.68 crore.
- Hindustan Unilever Ltd (HUL): A decline of ₹3,500.89 crore, resulting in a market cap of ₹5,27,354.01 crore.
- State Bank of India (SBI): Decreased by ₹3,391.35 crore.
- ITC: Saw a minor decline of ₹312.85 crore.
A Silver Lining for Bharti Airtel
In contrast to the overall market trend, Bharti Airtel emerged as a rare winner. The company’s market capitalization rose by ₹7,013.59 crore, reaching ₹9,94,019.51 crore. Despite the losses faced by others, Reliance Industries retained its position as the most valuable company in India, followed closely by HDFC Bank, TCS, Bharti Airtel, ICICI Bank, SBI, Infosys, Bajaj Finance, HUL, and ITC.
Conclusion
This week’s market performance reflects the volatility that can occur during holiday periods. Investors are advised to stay informed and consider market trends carefully. For more insights on stock market dynamics and investment strategies, check out our detailed articles on market analysis and top investment tips.
