Mumbai, June 7: Seven of India’s top ten companies have seen a staggering valuation drop of ₹1.25 lakh crore in the past week. This decline is attributed to global instability impacting the stock market.
Last week, the Nifty index fell by 181.05 points, or 0.77%, closing at 23,366.70. Meanwhile, the Sensex dropped by 532.40 points, or 0.71%, ending at 74,243.34.
The most significant loss was recorded by Reliance Industries, whose market capitalization decreased by ₹39,718 crore, bringing it down to ₹17,47,321.40 crore.
Tata Consultancy Services also faced a substantial decline, with its valuation dropping by ₹20,134.66 crore to ₹7,95,346.09 crore.
Bharti Airtel’s market capitalization fell by ₹18,736.04 crore, now standing at ₹10,96,150.49 crore.
Leading infrastructure firm Larsen & Toubro also experienced a loss, with its valuation decreasing by ₹16,880.2 crore to ₹5,43,956.44 crore.
During this period, the valuation of the state-owned insurance giant Life Insurance Corporation of India dropped by ₹14,610.74 crore, now at ₹5,05,873.32 crore.
Additionally, Bajaj Finance and Hindustan Unilever recorded market cap declines of ₹9,681.36 crore and ₹5,909.23 crore, respectively.
On a positive note, three companies saw an increase in their market capitalization. State Bank of India’s market cap rose by ₹12,692.09 crore to ₹9,02,523.63 crore.
ICICI Bank’s market cap increased by ₹4,484.86 crore, reaching ₹9,04,214.30 crore. HDFC Bank also gained, with its market cap up by ₹4,101.47 crore to ₹11,50,743.31 crore.
Despite the downturn, Reliance Industries maintained its position as the most valuable domestic company based on market capitalization, followed by HDFC Bank, Bharti Airtel, ICICI Bank, State Bank of India, Tata Consultancy Services, Bajaj Finance, Larsen & Toubro, LIC, and Hindustan Unilever.
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ABs
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