Top-10 Firms Lose ₹1.25 Lakh Crore In Market Value, Reliance Alone Sees ₹39,718 Crore Erosion During Weak Week
· Free Press Journal
Mumbai: A weak performance in the stock market led to a sharp erosion in the market value of several blue-chip companies last week.
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The combined market capitalisation of seven out of India's 10 most valuable listed companies declined by nearly Rs 1.25 lakh crore amid broader market weakness.
Markets End Lower
The benchmark indices ended the week in negative territory.
The BSE Sensex fell 532.4 points, or 0.71 per cent, while the Nifty 50 declined 181.05 points, or 0.76 per cent.
The decline reflected cautious investor sentiment amid global and domestic uncertainties.
Top 10 Firms Lose ₹3.12 Lakh Crore In Market Value, Reliance Industries Suffers Biggest Decline Last WeekReliance Records Biggest Loss
Among the top companies, Reliance Industries Limited suffered the biggest fall in market valuation.
The company's market capitalisation dropped by Rs 39,718 crore during the week to Rs 17.47 lakh crore. Despite the decline, Reliance remained India's most valuable listed company.
TCS, Airtel and L&T Also Under Pressure
Tata Consultancy Services lost Rs 20,134.66 crore in market value, taking its valuation to Rs 7.95 lakh crore.
Telecom major Bharti Airtel saw its market capitalisation decline by Rs 18,736.04 crore to Rs 10.96 lakh crore.
Meanwhile, engineering and infrastructure giant Larsen & Toubro lost Rs 16,880.2 crore in valuation.
Top 4 Valued Firms Lose Over ₹1 Lakh Crore In Market Cap, SBI Leads Fall As Sensex Gains 414 Points Last WeekLIC, Bajaj Finance and HUL Decline
Life Insurance Corporation of India witnessed a reduction of Rs 14,610.74 crore in market value.
Financial services firm Bajaj Finance and FMCG major Hindustan Unilever Limited also recorded losses during the week.
Banks Offer Some Relief
While most top firms saw declines, banking stocks provided some support.
State Bank of India added Rs 12,692 crore to its market value. ICICI Bank gained Rs 4,485 crore, while HDFC Bank added over Rs 4,100 crore.
Despite the mixed performance, Reliance continued to hold the top position among India's most valuable listed companies.