Mumbai, August 16: Five of India’s top ten companies have seen a significant drop in their market capitalization, losing ₹1 lakh crore. This decline is attributed to selling pressure in the domestic stock market.
Last week, the Sensex fell by 489.92 points, or 0.62%, closing at 78,009.25, while the Nifty dropped by 204.65 points, or 0.83%, ending at 24,366.00.
Among the top ten, Tata Consultancy Services (TCS), part of the Tata Group, suffered the most, with its market cap decreasing by ₹34,263.28 crore to ₹8.53 lakh crore.
Reliance Industries also experienced a decline, with its market cap falling by ₹31,869.13 crore to ₹17.70 lakh crore.
The State Bank of India (SBI) saw its market cap decrease by ₹25,891.88 crore, bringing it down to ₹9.86 lakh crore. HDFC Bank’s market cap dropped by ₹7,165.37 crore to ₹11.21 lakh crore, while ICICI Bank’s value fell by ₹2,792.65 crore to ₹10.18 lakh crore.
In contrast, five of the top ten companies recorded an increase in market capitalization, amounting to approximately ₹55,149.45 crore.
Life Insurance Corporation of India (LIC) was among the top gainers, with its market valuation increasing by ₹26,438.49 crore to ₹5.23 lakh crore.
Bharti Airtel also reported a substantial gain, with its valuation rising by ₹20,592.13 crore to ₹12.43 lakh crore.
Bajaj Finance’s market capitalization increased by ₹3,548.79 crore to ₹6.77 lakh crore, while Larsen & Toubro saw a rise of ₹2,490.66 crore, bringing its valuation to ₹5.59 lakh crore. Hindustan Unilever’s market value increased by ₹2,079.38 crore to ₹4.91 lakh crore.
By the end of the week, Reliance Industries remained the most valuable company in India, followed by Bharti Airtel, HDFC Bank, ICICI Bank, SBI, TCS, Bajaj Finance, Larsen & Toubro, LIC, and Hindustan Unilever.
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ABS
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