Bajaj Finance’s market capitalization decreased by more than Rs 14,000 crore last week due to a decline in market sentiment affecting many of India’s top companies. This drop was part of a broader trend of equity sell-offs driven by global uncertainties, foreign investor outflows, and pressure on the rupee. The combined market value of nine of the top 10 companies also fell by Rs 2.51 lakh crore during the week, indicating a significant downturn in the stock market.
Market experts attributed the negative trend to various factors such as adverse global cues, continuous foreign institutional investor selling, a weakening rupee, and subdued corporate earnings. The Sensex, a key benchmark, experienced substantial selling pressure, declining by 2,032.65 points or 2.43 percent. Ajit Mishra, Senior Vice President of Research at Religare Broking, noted that bears dominated the market throughout the week due to multiple domestic and global concerns.
Among the major losers, Bajaj Finance saw its market capitalization drop by Rs 14,093.93 crore to Rs 5,77,353.23 crore. Reliance Industries faced the most significant setback, with its market valuation falling by Rs 96,960.17 crore to Rs 18,75,533.04 crore. ICICI Bank’s value decreased by Rs 48,644.99 crore to Rs 9,60,825.29 crore, while HDFC Bank lost Rs 22,923.02 crore, bringing its market worth to Rs 14,09,611.89 crore.
Bharti Airtel’s market capitalization declined by Rs 17,533.97 crore to Rs 11,32,010.46 crore. Tata Consultancy Services witnessed a drop in valuation by Rs 16,588.93 crore to Rs 11,43,623.19 crore, and Larsen & Toubro lost Rs 15,248.32 crore to settle at Rs 5,15,161.91 crore. State Bank of India’s market value slipped by Rs 11,907.5 crore to Rs 9,50,199.77 crore, while Infosys saw a decline of Rs 7,810.77 crore, bringing its valuation to Rs 6,94,078.82 crore.
In contrast, Hindustan Unilever was the sole gainer among the top 10 companies, with its market capitalization increasing by Rs 12,311.86 crore to Rs 5,66,733.16 crore. Despite the weekly losses, Reliance Industries retained its position as India’s most valued company, followed by HDFC Bank, TCS, Bharti Airtel, ICICI Bank, State Bank of India, Infosys, Bajaj Finance, Hindustan Unilever, and Larsen & Toubro.
