The total market value of nine of the ten most expensive companies decreased by 2.74 trillion rupees last week. This decline occurred against a backdrop of an overall bearish trend in the stock market, with HDFC Bank taking the biggest hit.
The total market value of nine of the ten most expensive companies decreased by 2.74 trillion rupees last week. This decline occurred against a backdrop of an overall bearish trend in the stock market, with HDFC Bank taking the biggest hit.
Last week, the BSE Sensex benchmark fell by 2091.68 points, representing 2.67 percent, while the NSE Nifty index dropped by 566.85 points, or 2.32 percent. Ajit Mishra, Senior Vice President of Research at Religare Broking Ltd, noted that the markets demonstrated a weak and volatile week as major indices continued their losing streak.
Investor sentiment was heavily influenced by the sharp rise in crude oil prices and renewed geopolitical tensions. Furthermore, the banking sector acted as a major drag due to mixed first-quarter results for fiscal year 27. Additionally, buying interest was limited by the general trend towards risk aversion and rupee depreciation.
Only Hindustan Unilever showed growth among the top 10 companies. Among the companies whose valuation declined were Reliance Industries, Bharti Airtel, HDFC Bank, ICICI Bank, State Bank of India, Tata Consultancy Services (TCS), Bajaj Finance, Life Insurance Corporation of India (LIC), and Larsen & Toubro.
HDFC Bank's market value plummeted by 1,18,383.91 crore rupees, reaching 11,43,985.90 crore rupees. The 9.40 percent drop in HDFC Bank's shares last week was linked to concerns over margins. It is worth noting that Reliance Industries' capitalization shrank by 65,429.82 crore rupees, amounting to 17,29,661.44 crore rupees.
State Bank of India lost 26,814.94 crore rupees, and Bajaj Finance fell by 26,802.74 crore rupees, reaching 6,30,471.54 crore rupees. LIC's capitalization decreased by 15,116.74 crore rupees to 5,33,007.56 crore rupees, and ICICI Bank fell by 6,223.84 crore rupees to 10,28,217.93 crore rupees. Bharti Airtel slightly reduced its valuation by 6,021.64 crore rupees, totaling 11,85,046.13 crore rupees, while TCS fell by 5,191.95 crore rupees to 8,15,480.75 crore rupees. Larsen & Toubro faced a capitalization reduction of 4,092.79 crore rupees, amounting to 5,20,747.89 crore rupees.
In contrast, Hindustan Unilever's market capitalization increased by 152.73 crore rupees, reaching 5,03,928.59 crore rupees.
Ultimately, Reliance Industries remained the most valuable company, followed by Bharti Airtel, HDFC Bank, ICICI Bank, State Bank of India, TCS, Bajaj Finance, LIC, Larsen & Toubro, and Hindustan Unilever.
The total market value of five of India's ten most expensive companies increased by 1.54 trillion rupees last week, with Tata Consultancy Services (TCS) showing the largest growth.
This growth occurred against a backdrop of an overall positive trend in the stock market. Last week, the BSE Sensex index rose by 582.06 points, which is 0.75 percent, and the NSE Nifty index increased by 127.4 points, or 0.52 percent.
According to Ajit Mishra, Senior Vice President of Research at Religare Broking Ltd, Indian stock markets ended the week on a stable note, continuing their recovery despite heightened geopolitical tensions, high crude oil prices, and persistent uncertainty regarding the global interest rate forecast. He noted that sentiment was supported by encouraging first-quarter earnings for the fiscal year 27 IT sector, as well as renewed interest in buying financial stocks and the resilience of domestic economic fundamentals.
Among the companies whose value increased were Reliance Industries, ICICI Bank, State Bank of India, Tata Consultancy Services (TCS), and Bajaj Finance. Meanwhile, the valuation of firms such as HDFC Bank, Bharti Airtel, Life Insurance Corporation of India (LIC), Larsen & Toubro, and Hindustan Unilever decreased.
TCS added 72,072.3 million rupees, bringing its market capitalization to 820,672.70 million rupees. The country's largest IT company reported a 4.61 percent rise in net profit for the June quarter, reaching 13,349 crore rupees, and forecasted improved demand, which had been affected by the crisis in West Asia, in the current quarter.
ICICI Bank's value increased by 29,062.06 million rupees, reaching 1,034,441.77 million rupees. Reliance Industries' market capitalization jumped by 23,884.93 million rupees, amounting to 1,795,091.26 million rupees. Bajaj Finance increased its capitalization by 21,946.5 million rupees, reaching 657,274.28 million rupees, and State Bank of India grew by 7,338.34 million rupees, reaching 963,768.78 million rupees.
However, Larsen & Toubro's market capitalization decreased by 18,097.72 million rupees, standing at 524,840.68 million rupees. LIC's value fell by 12,080.75 million rupees to 548,124.30 million rupees. Bharti Airtel lost 7,706.45 million rupees, and HDFC Bank slightly declined by 7,084.61 million rupees, reaching 1,262,369.81 million rupees. Hindustan Unilever's market capitalization dropped by 1,221.79 million rupees to 503,775.86 million rupees.
Reliance Industries remained the most valuable company, followed by HDFC Bank, Bharti Airtel, ICICI Bank, State Bank of India, TCS, Bajaj Finance, LIC, Larsen & Toubro, and Hindustan Unilever.
