Last week, the Indian stock market faced headwinds, resulting in a collective dip in the market capitalization (mcap) of the top 10 most valued firms. Here’s a breakdown of the changes:
TCS and Infosys Lead the Decline:
- Tata Consultancy Services (TCS) and Infosys bore the brunt of the market downturn. TCS witnessed a significant drop of Rs 26,308.58 crore in its mcap, bringing it to Rs 12,91,919.56 crore. Meanwhile, Infosys saw a substantial erosion of Rs 25,296.43 crore, reducing its valuation to Rs 5,95,597.10 crore.
Reliance Industries and Hindustan Unilever Also Affected:
- Reliance Industries, despite being at the top of the valuation ladder, wasn’t immune to the trend, experiencing a decline of Rs 5,108.05 crore in mcap to reach Rs 15,87,553.37 crore. Hindustan Unilever’s valuation also took a hit, dropping by Rs 3,865.08 crore to Rs 5,79,373.96 crore.
Mixed Results for Banks:
- HDFC Bank’s mcap dipped by Rs 2,008.74 crore to Rs 11,57,145.86 crore. In contrast, ICICI Bank and State Bank of India managed to gain ground, with ICICI Bank adding Rs 1,296.63 crore to reach Rs 6,66,728.97 crore, and State Bank of India gaining Rs 535.48 crore to Rs 5,34,316.52 crore.
Bajaj Finance Bucks the Trend:
- Bajaj Finance stood out by bucking the trend, with its mcap surging by Rs 20,413.41 crore to Rs 4,73,186.41 crore. Bharti Airtel also performed well, adding Rs 8,520.13 crore to reach a valuation of Rs 5,19,279.14 crore. ITC’s mcap climbed by Rs 1,526.52 crore to Rs 5,54,207.44 crore.
In summary, last week’s market turbulence impacted the mcap of India’s top firms, with TCS and Infosys facing the most significant setbacks, while some banks and select companies managed to weather the storm with gains.