Top Indian Firms Lose ₹88K Cr Market Cap; Airtel Worst Hit

Four of India’s top-10 most valued firms experienced a combined market capitalization erosion of ₹87,960.29 crore last week. Bharti Airtel recorded the most significant decline, reflecting a bearish trend across equity markets.

The broader Indian equity markets concluded the week on a cautious note, extending their recent corrective phase. The BSE Sensex fell by 468.42 points, or 0.60 per cent, while the NSE Nifty dipped 114 points, marking a 0.46 per cent decrease.

Key Market Drivers

Investor sentiment remained subdued due to several factors, as noted by Ajit Mishra, SVP, Research, Religare Broking Ltd. These included elevated crude oil prices, rising global bond yields, and persistent geopolitical uncertainty.

Top Losers in Valuation

• Bharti Airtel’s valuation dropped by ₹28,052.96 crore, settling at ₹12,14,963.15 crore.
• Tata Consultancy Services (TCS) saw an erosion of ₹22,070.34 crore, bringing its valuation to ₹8,31,436.51 crore.
• The State Bank of India’s market cap declined by ₹20,861.2 crore, reaching ₹9,64,968.76 crore.
• Hindustan Unilever’s valuation fell by ₹16,975.79 crore, to ₹4,73,912.56 crore.

Firms Registering Gains

Despite the overall bearish sentiment, several other top firms managed to register gains in their market capitalization last week. These increases indicate a mixed performance across the leading companies.

• Life Insurance Corporation of India (LIC) jumped ₹12,650 crore to ₹5,35,980.31 crore.
• Reliance Industries surged ₹8,119.53 crore, reaching ₹17,78,175.59 crore.
• Larsen & Toubro climbed ₹3,487.83 crore to ₹5,62,460.94 crore.
• Bajaj Finance edged higher by ₹3,424.28 crore, bringing its mcap to ₹6,80,621.62 crore.
• ICICI Bank added ₹752.47 crore, with its mcap at ₹10,18,330.45 crore.
• HDFC Bank went up ₹356.95 crore to ₹11,21,159.05 crore.

Current Valuation Rankings

Reliance Industries maintained its position as the most valued firm by market capitalization. The ranking of other top entities also shifted following last week’s movements.

• Reliance Industries
• Bharti Airtel
• HDFC Bank
• ICICI Bank
• State Bank of India
• TCS
• Bajaj Finance
• Larsen & Toubro
• LIC
• Hindustan Unilever

The past week concluded with a notable decline in the combined valuation of four major firms, while others demonstrated resilience with positive market cap adjustments.