Market Trends: Indian Companies Face Decline
Last week, the combined market valuation of eight of the top-10 most valued domestic firms in India, including Bajaj Finance and ICICI Bank, dropped by Rs 79,129.21 crore. This decline was largely due to a bearish trend in equities, with the BSE benchmark index falling by 444.71 points or 0.51 percent.
Winners and Losers
Only two companies, Reliance Industries and Larsen & Toubro, saw an increase in their market valuation. On the other hand, companies like HDFC Bank, Bharti Airtel, Tata Consultancy Services (TCS), ICICI Bank, State Bank of India, Infosys, Bajaj Finance, and Life Insurance Corporation of India (LIC) faced a decline in their market capitalization.
Biggest Losers
- Bajaj Finance: Lost Rs 19,289.7 crore, with a new market valuation of Rs 6,33,106.69 crore
- ICICI Bank: Lost Rs 18,516.31 crore, with a new market valuation of Rs 9,76,668.15 crore
- Bharti Airtel: Lost Rs 13,884.63 crore, with a new market valuation of Rs 11,87,948.11 crore
- State Bank of India: Lost Rs 7,846.02 crore, with a new market valuation of Rs 8,88,816.17 crore
- Infosys: Lost Rs 7,145.95 crore, with a new market valuation of Rs 6,64,220.58 crore
- TCS: Lost Rs 6,783.92 crore, with a new market valuation of Rs 11,65,078.45 crore
- HDFC Bank: Lost Rs 4,460.93 crore, with a new market valuation of Rs 15,38,558.71 crore
- LIC: Lost Rs 1,201.75 crore, with a new market valuation of Rs 5,48,820.05 crore
Biggest Gainers
- Reliance Industries: Gained Rs 20,434.03 crore, with a new market valuation of Rs 21,05,652.74 crore
- Larsen & Toubro: Gained Rs 4,910.82 crore, with a new market valuation of Rs 5,60,370.38 crore
The ranking of the top-10 most valued firms remains largely the same, with Reliance Industries at the top, followed by HDFC Bank, Bharti Airtel, TCS, ICICI Bank, State Bank of India, Infosys, Bajaj Finance, Larsen & Toubro, and LIC.
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