Top Firms Lose ₹1 Lakh Crore Market Cap Amid Crude Oil Surge
By Market Desk
India’s top companies lost over ₹1 lakh crore in market cap last week due to rising crude oil prices and geopolitical concerns. Market indices also declined.
Five of India’s ten most valued companies saw their combined market capitalization decrease by over Rs 1 lakh crore last week. This notable downturn in domestic equities was primarily influenced by elevated crude oil prices, ongoing geopolitical uncertainties, and mixed global market signals.
The broader Indian market also experienced a decline during the period. The BSE Sensex dropped by 0.62%, while the NSE Nifty fell by 0.83%.
Major Market Capitalisation Erosion
Among the top ten firms, Tata Consultancy Services (TCS) recorded the most significant reduction in market value. Reliance Industries, despite maintaining its position as India’s most valued company, also saw a substantial fall.
- TCS lost Rs 34,263.28 crore, bringing its market capitalisation to Rs 8,53,506.85 crore.
- Reliance Industries’ market value decreased by Rs 31,869.13 crore.
- State Bank of India (SBI) reported a loss of Rs 25,891.88 crore in its market capitalisation.
- HDFC Bank’s valuation declined by Rs 7,165.37 crore.
- ICICI Bank saw its market capitalisation fall by Rs 2,792.65 crore.
The total market capitalisation erosion across these five companies amounted to approximately Rs 1.02 lakh crore.
Top Gainers in the Week
In contrast, the remaining five companies within the top-10 list registered gains, partially offsetting the overall market decline. Life Insurance Corporation (LIC) emerged as the leading gainer.
- Life Insurance Corporation (LIC) added Rs 26,438.49 crore to its market value.
- Bharti Airtel’s valuation increased by Rs 20,592.13 crore.
- Bajaj Finance saw its market capitalisation rise by Rs 3,548.79 crore.
- Larsen & Toubro gained Rs 2,490.66 crore.
- Hindustan Unilever’s market value increased by Rs 2,079.38 crore.
Collectively, these five companies added Rs 55,149.45 crore in market capitalisation during the week.
Market Valuation Standings
Reliance Industries sustained its position as India’s most valued domestic company. The top ten list concluded with Hindustan Unilever.
- Reliance Industries
- Bharti Airtel
- HDFC Bank
- ICICI Bank
- State Bank of India
- Tata Consultancy Services
- Bajaj Finance
- Larsen & Toubro
- Life Insurance Corporation
- Hindustan Unilever