The combined market value of nine out of India’s top 10 listed companies dropped by Rs 2.74 lakh crore last week due to a significant sell-off in domestic equities. This decline was in line with the overall weak market performance, with the Sensex falling by 2,091.68 points and the Nifty by 566.85 points.
Among the top 10 companies, only Hindustan Unilever saw an increase in market valuation, while others like Reliance Industries, Bharti Airtel, HDFC Bank, and ICICI Bank experienced a decrease in market capitalization. HDFC Bank suffered the most significant decline, losing Rs 1,18,383.91 crore in market value.
Reliance Industries, the most valued company in India, also witnessed a decrease in market capitalization by Rs 65,429.82 crore. State Bank of India, Bajaj Finance, and Life Insurance Corporation of India were among the companies that faced erosion in their market value during the week.
Hindustan Unilever stood out by adding Rs 152.73 crore to its market capitalization, while other major companies like Tata Consultancy Services and Larsen & Toubro experienced a decline. Despite the losses, Reliance Industries maintained its position as the most valued listed company in India.
