Indian Stock Market Sees Major Drop in Top Companies Market Capitalization

Mumbai, May 17: The Indian stock market has witnessed a significant decline, with nine out of the top ten companies losing a total of ₹3.12 lakh crore in market capitalization last week. This downturn is attributed to heavy selling in domestic markets and ongoing global instability, which has put pressure on the rupee against the dollar.

During the trading period from May 11 to May 15, the Sensex fell by 2,090 points, or 2.70%, closing at 75,237, while the Nifty dropped by 532 points, or 2.20%, to settle at 23,643.

Only one company in the top ten recorded an increase in market capitalization. Bharti Airtel saw its market cap rise by ₹42,470.13 crore, reaching ₹11,60,525.16 crore.

Conversely, the State Bank of India’s market cap decreased by ₹52,245.3 crore, bringing it down to ₹8,88,862.32 crore. Tata Consultancy Services experienced a decline of ₹47,415.04 crore, resulting in a market cap of ₹8,19,062.65 crore. Bajaj Finance’s valuation fell by ₹27,892.28 crore to ₹5,66,717.74 crore.

HDFC Bank’s market valuation dropped by ₹20,630.01 crore, now standing at ₹11,82,069.25 crore. Similarly, ICICI Bank’s market cap fell by ₹14,290 crore, reaching ₹8,92,385.39 crore.

Leading engineering and construction firm Larsen & Toubro saw a decrease of ₹9,078.87 crore, leaving its market cap at ₹5,37,542.34 crore. Hindustan Unilever’s market capitalization also fell by ₹3,970.8 crore, now at ₹5,33,592.18 crore.

The valuation of the Life Insurance Corporation of India decreased by ₹2,182.12 crore, bringing it to ₹5,05,367.32 crore.

Despite the weekly decline, HDFC Bank remains one of the most valuable companies in the country, followed by Bharti Airtel, ICICI Bank, State Bank of India, TCS, Bajaj Finance, Larsen & Toubro, Hindustan Unilever, and LIC.

Next week is expected to be crucial for the Indian stock market. Factors such as Iran-U.S. tensions, crude oil prices, foreign institutional investor movements, and domestic economic data will influence market trends.

During the trading sessions from May 18 to 22, companies like Indian Oil, Ola Electric Mobility, JSW Cement, BEL, BPCL, Lenskart Solutions, LIC, ITC, and Nykaa will announce their results.

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