Last week, the market capitalization of seven of the ten most expensive companies decreased by 1.13 trillion rupees, with Bharti Airtel and Reliance Industries being among the biggest participants in the decline amid a bearish trend in the stock market.
During the past week, the BSE Sensex index dropped by 276.32 points, which is 0.35 percent, and the NSE Nifty index fell by 76.35 points, or 0.31 percent.
Ajit Mishra, Senior Vice President of Research at Religare Broking Ltd, noted that Indian stock markets ended the week cautiously, continuing a correction phase, as concerns over global interest rates, geopolitical uncertainty, and volatility related to the new closed trading session negatively affected investor sentiment.
Despite the markets showing a sharp recovery on Friday due to strong demand for IT stocks following positive global technology signals, leading indices remained under pressure for the third consecutive week.
Companies whose capitalization declined and increased
While the market value of companies such as Reliance Industries, Bharti Airtel, HDFC Bank, Bajaj Finance, Larsen & Toubro, Life Insurance Corporation of India (LIC), and Hindustan Unilever decreased, ICICI Bank, State Bank of India, and Tata Consultancy Services (TCS) showed growth.
Specifically, Bharti Airtel's value fell by 40,500.85 crore rupees, reaching 11,74,462.30 crore rupees. Reliance Industries' market capitalization shrank by 40,056.32 crore rupees, amounting to 17,38,119.27 crore rupees.
HDFC Bank's value was also noted to have decreased by 11,558.35 crore rupees to 11,09,600.70 crore rupees, and Bajaj Finance lost 10,086.05 crore rupees, bringing its valuation to 6,70,535.57 crore rupees.
Larsen & Toubro's market capitalization reduced by 6,473.45 crore rupees to 5,55,987.49 crore rupees, while LIC fell by 3,162.5 crore rupees, totaling 5,32,817.81 crore rupees. Hindustan Unilever's value slightly decreased by 1,550.73 crore rupees, reaching 4,72,361.83 crore rupees.
However, TCS's capitalization increased by 16,643.2 crore rupees, reaching 8,48,079.71 crore rupees. ICICI Bank's value grew by 4,475.28 crore rupees to 10,22,805.73 crore rupees, and State Bank of India increased by 599.99 crore rupees, reaching 9,65,568.75 crore rupees.
In the ranking of the most expensive companies, Reliance Industries maintained the leading position, followed by Bharti Airtel, HDFC Bank, ICICI Bank, State Bank of India, TCS, Bajaj Finance, Larsen & Toubro, LIC, and Hindustan Unilever.