In the past week, the Indian stock market witnessed a consistent bearish trend, leading to a downward trajectory in the bourses. As the week concluded, both the BSE Sensex and the Nifty index closed on a negative note. The BSE Sensex settled at 64,948.66, reflecting a decline of 202.36 points, while the Nifty concluded at 19,310.15, down by 55.10 points. This downward movement resulted in a collective decrease of ₹80,200.24 crore in the market capitalization of seven out of the top 10 valued firms, with Tata Consultancy Services (TCS) and HDFC Bank facing the most substantial setbacks.
Among the top 10 companies, Reliance Industries, Hindustan Unilever, and Infosys managed to achieve gains during this period. However, Tata Consultancy Services (TCS), HDFC Bank, ICICI Bank, ITC, State Bank of India, Bharti Airtel, and Bajaj Finance saw a decrease in their market valuation.
The market capitalization of Tata Consultancy Services (TCS) witnessed a decline of ₹29,894.45 crore, reaching a valuation of ₹12,32,240.44 crore. Similarly, HDFC Bank experienced a reduction of ₹19,664.06 crore in its market capitalization, bringing it to ₹12,02,728.20 crore. Bajaj Finance observed a decrease in market valuation by ₹12,233.5 crore, resulting in a valuation of ₹4,15,763.47 crore, while ITC encountered a decline of ₹8,338.45 crore, ending with a valuation of ₹5,50,821.26 crore.
During this period, Bharti Airtel’s market capitalization dropped by ₹8,081.38 crore, settling at ₹4,78,730.70 crore, and the State Bank of India’s market capitalization underwent a dip of ₹1,026.33 crore, closing at ₹5,11,424.89 crore.
The market capitalization of ICICI Bank diminished by ₹962.07 crore, settling at ₹6,65,550.83 crore. In contrast, Hindustan Unilever experienced an increase of ₹12,347.1 crore in market valuation, reaching a total of ₹6,00,250.08 crore. The market capitalization of Infosys witnessed growth of ₹6,972.87 crore, leading to a valuation of ₹5,76,379.26 crore. Reliance Industries observed a rise of ₹5,886.09 crore in its market capitalization, taking the total to ₹17,29,764.68 crore.
In the hierarchy of top 10 companies, Reliance Industries maintained its leading position in terms of market valuation, followed by TCS, HDFC Bank, ICICI Bank, Hindustan Unilever, Infosys, ITC, State Bank of India, Bharti Airtel, and Bajaj Finance.