Market cap of 6 major companies declined by ₹68,400 crore
Last week, six out of the 10 most valued firms experienced a significant decrease in their combined market valuation by ₹68,417.14 crore. Bharti Airtel and Reliance Industries were the hardest hit in this decline. Bharti Airtel's market capitalization fell by ₹27,635.65 crore, bringing its total valuation down to ₹7,23,770.70 crore. Similarly, Reliance Industries' valuation dropped by ₹23,341.56 crore to a new total of ₹19,40,738.40 crore. However, it is still the most valued firm from the top-10 pack.
Other firms also face market valuation slump
In addition to Bharti Airtel and Reliance Industries, other firms also saw a decrease in their market valuations. Life Insurance Corporation of India (LIC) experienced a drop in its market capitalization by ₹5,724.13 crore, reducing its total valuation to ₹6,19,217.27 crore. Infosys' market capitalization fell by ₹5,686.69 crore to ₹5,87,949.62 crore, while ITC's valuation was cut down by ₹4,619.35 crore to ₹5,44,645.97 crore. Hindustan Unilever's market capitalization dipped by ₹1,409.76 crore to reach a new total of ₹5,20,551.94 crore.
Some firms buck the trend with m-cap increase
Despite the overall market dip, some firms saw an increase in their market capitalizations. State Bank of India (SBI)'s market capitalization rose by ₹26,907.71 crore to a total of ₹7,42,126.11 crore. ICICI Bank added ₹24,651.55 crore to its valuation, now standing at ₹8,02,401.77 crore. Tata Consultancy Services experienced a surge in its market capitalization by ₹9,587.93 crore to reach a new total of ₹13,89,110.43 crore. HDFC Bank's market cap increased by ₹6,761.25 crore to stand at ₹11,53,704.84 crore.
