NEW DELHI: The collective market capitalization of the top-10 most valued firms declined Rs 4,95,061 crore last week, reflecting the bearish equity market trend, with TCS and Reliance Industries registering the most significant losses. Meanwhile, the BSE Sensex declined by 4,091.53 points or 4.98 per cent during this period.
"The Indian equity market recorded its steepest weekly decline since June 2022, with the Nifty losing 4.77 per cent. The week began with the US Federal Reserve's announcement, which significantly altered market sentiment. Led by Chair Jerome Powell, the Federal Reserve revised its outlook to only two rate cuts in 2025 instead of the previously anticipated four. This shift in policy dampened market confidence," said Pravesh Gour, senior technical analyst, Swastika Investmart Ltd.
TCS market valuation reduced by Rs 1,10,550.66 crore to Rs 15,08,036.97 crore, while Reliance Industries valuation declined by Rs 91,140.53 crore to Rs 16,32,004.17 crore.
HDFC Bank's m-cap fell by Rs 76,448.71 crore to Rs 13,54,709.35 crore, and Bharti Airtel's valuation decreased by Rs 59,055.42 crore to Rs 8,98,786.98 crore.
Additionally, State Bank of India's market capitalisation reduced by Rs 43,909.13 crore to Rs 7,25,125.38 crore, while ICICI Bank's value fell by Rs 41,857.33 crore to Rs 9,07,449.04 crore.
Infosys also witnessed a decline of Rs 32,300.2 crore to Rs 7,98,086.90 crore, and LIC's value decreased by Rs 20,050.25 crore to Rs 5,69,819.04 crore.
Hindustan Unilever's market capitalisation reduced by Rs 12,805.27 crore to Rs 5,48,617.81 crore, and ITC's value declined by Rs 6,943.5 crore to Rs 5,81,252.32 crore.
Meanwhile, Reliance Industries maintained its position as the most valued company, followed by TCS, HDFC Bank, ICICI Bank, Bharti Airtel, Infosys, State Bank of India, ITC, LIC and Hindustan Unilever.
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