Top-10 Firms Lose ₹2.74 Lakh Crore In Market Value, HDFC Bank Suffers Biggest Weekly Erosion
· Free Press Journal
New Delhi: Nine of India's 10 most valuable companies together lost Rs 2.74 lakh crore in market value last week as the stock market remained under pressure. HDFC Bank suffered the biggest decline, while Hindustan Unilever was the only company to post a small gain.
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Weak Market Weighs on Stocks
The broader market remained weak during the week. The BSE Sensex fell 2,091.68 points (2.67 percent), while the NSE Nifty declined 566.85 points (2.32 percent).
Analysts said rising crude oil prices, renewed geopolitical tensions and mixed June quarter (Q1 FY27) earnings from banks kept investors cautious. Weakness in the rupee and a risk-off mood also reduced buying interest.
HDFC Bank Sees Sharpest Fall
HDFC Bank recorded the biggest fall in market value among the top-10 firms.
Its market capitalisation dropped by Rs 1,18,383.91 crore to Rs 11,43,985.90 crore after its shares declined 9.40 percent during the week amid concerns over margins.
Reliance Industries also witnessed a sharp decline, with its valuation falling by Rs 65,429.82 crore to Rs 17,29,661.44 crore.
Other Companies Also Lose Value
State Bank of India lost Rs 26,814.94 crore, while Bajaj Finance's market value fell by Rs 26,802.74 crore.
LIC's valuation declined by Rs 15,116.74 crore, followed by ICICI Bank, which lost Rs 6,223.84 crore.
Sensex Rises 130 Points, Nifty Ends Above 24,074 As Banking Stocks Lift Markets Despite VolatilityBharti Airtel's market capitalisation slipped by Rs 6,021.64 crore, while Tata Consultancy Services (TCS) lost Rs 5,191.95 crore. Larsen & Toubro also recorded a decline of Rs 4,092.79 crore.
HUL Stands Out
Hindustan Unilever was the only company among the top-10 to end the week with gains. Its market capitalisation increased by Rs 152.73 crore to Rs 5,03,928.59 crore.
Despite the weekly decline, Reliance Industries remained India's most valuable listed company, followed by Bharti Airtel, HDFC Bank, ICICI Bank, State Bank of India, TCS, Bajaj Finance, LIC, Larsen & Toubro and Hindustan Unilever.