Market recap: Mcap of 7 of top-10 most valued firms erodes over Rs 88,600 cr; Airtel, TCS hit hardest
Seven of India’s ten most valued companies collectively lost Rs 88,635.28 crore in a holiday-shortened session, with Bharti Airtel and Tata Consultancy Services (TCS) among the biggest losers. The decline mirrored a weak trend across broader equity markets. The BSE benchmark fell 722.43 points, or 0.86%, while the Nifty dropped 229.8 points, a fall of 0.89%. Among the top-10 firms, Reliance Industries, HDFC Bank, Bharti Airtel, TCS, ICICI Bank, Infosys, and Hindustan Unilever saw their market valuations contract. In contrast, State Bank of India (SBI), Bajaj Finance, and Life Insurance Corporation of India (LIC) recorded gains. Bharti Airtel’s market capitalisation declined sharply by Rs 30,506.26 crore, settling at Rs 11,41,048.30 crore. TCS faced a reduction of Rs 23,680.38 crore, bringing its valuation to Rs 10,82,658.42 crore. Hindustan Unilever’s mcap dropped Rs 12,253.12 crore to Rs 5,67,308.81 crore, while Reliance Industries fell by Rs 11,164.29 crore to Rs 20,00,437.77 crore. HDFC Bank saw its market cap decrease by Rs 7,303.93 crore to Rs 15,11,375.21 crore, and Infosys’ valuation edged down by Rs 2,139.52 crore to Rs 6,13,750.48 crore. ICICI Bank also slipped Rs 1,587.78 crore to Rs 9,59,540.08 crore. On the upside, LIC gained Rs 18,469 crore, taking its market value to Rs 5,84,366.54 crore. SBI rose Rs 17,492.02 crore to Rs 8,82,400.89 crore, while Bajaj Finance added Rs 14,965.08 crore, reaching Rs 6,63,721.32 crore. Reliance Industries maintained its position as the country’s most valued firm, followed by HDFC Bank, Bharti Airtel, TCS, ICICI Bank, SBI, Bajaj Finance, Infosys, LIC, and Hindustan Unilever.
