New Delhi. Last week, due to weakness in the stock market, there was a huge decline in the market cap of seven of the top 10 most valuable companies of the Sensex. The total value of these companies decreased by Rs 88,635.28 crore. Bharti Airtel and Tata Consultancy Services (TCS) suffered the most losses. BSE Sensex fell 722 points and NSE Nifty fell 229 points during this period.
In the week under review, the market valuation of Bharti Airtel declined by Rs 30,506.26 crore to Rs 11,41,048.30 crore. Whereas the market cap of TCS fell by Rs 23,680.38 crore to Rs 10,82,658.42 crore. The decline in these two giant companies had a big impact on the total market capitalization.
Reliance, HDFC Bank and Hindustan Unilever also slipped.
The value of the country’s largest company Reliance Industries declined by Rs 11,164.29 crore to Rs 20,00,437.77 crore. The market cap of HDFC Bank fell by Rs 7,303.93 crore to Rs 15,11,375.21 crore. At the same time, the market capitalization of Hindustan Unilever declined by Rs 12,253.12 crore to Rs 5,67,308.81 crore. Infosys’ valuation also declined by Rs 2,139.52 crore to Rs 6,13,750.48 crore and ICICI Bank’s market cap declined by Rs 1,587.78 crore to Rs 9,59,540.08 crore.
LIC, SBI and Bajaj Finance rise
Amidst this decline, there were three companies which increased their market position. The market cap of Life Insurance Corporation of India (LIC) increased by Rs 18,469 crore to Rs 5,84,366.54 crore. The value of State Bank of India (SBI) increased by Rs 17,492.02 crore to Rs 8,82,400.89 crore. Whereas the market cap of Bajaj Finance increased by Rs 14,965.08 crore to Rs 6,63,721.32 crore.
Reliance still remains on top
Reliance Industries remained at the first position in the top 10 list. This was followed by HDFC Bank, Bharti Airtel, TCS, ICICI Bank, State Bank of India, Bajaj Finance, Infosys, LIC and Hindustan Unilever. Overall, during this period of market fluctuations, the value of most of the big companies decreased, while the government and finance sector companies showed strength.
