M-cap of 6 of top-10 top firms falls by ₹2.2 lakh crore: Check for winners and losers

The combined market valuation of six of India’s top-10 most valued companies eroded by ₹2.22 lakh crore last week.

The downturn was a result of a bearish trend in the equity market, with the BSE benchmark Sensex dropping 294.64 points or 0.36%.

Expert opinion on the market trend

"Markets ended lower for the fourth straight week as caution prevailed amid mixed cues. The market's direction was initially influenced by earnings announcements, with the banking sector showing strength due to positive results from HDFC Bank and ICICI Bank. However, a dip in stocks like Reliance capped the recovery.

Furthermore, foreign fund outflows and uncertainty over trade deals ahead of the August 1 deadline kept volatility high," said Ajit Mishra, SVP, Research, Religare Broking Ltd.

The week’s biggest losers

Reliance Industries and Infosys were the worst-hit among the top 10 firms, mirroring the market downturn. These firms suffered a combined erosion of ₹2,22,193.17 crore from their market valuation.

Here are the firms who were the most affected due to the trend:

• Reliance Industries: The valuation of the largest company by market cap tumbled ₹1,14,688 crore to ₹18,83,856 crore, the most during the period.
• Infosys: The tech giant faced an erosion of ₹29,475 crore to ₹6,29,622 crore from its market capitalisation.
• Tata Consultancy Services (TCS): Its m-cap dropped by ₹20,080 crore to ₹11,34,035 crore.

• Bajaj Finance: The m-cap of the firm declined by ₹17,524 crore to ₹5,67,769 crore
• Hindustan Unilever: The company’s valuation fell by ₹17,340 crore to ₹5,67,450 crore.
• Life Insurance Corporation of India (LIC): The valuation of LIC tanked ₹23,087 crore to ₹5,60,743 crore

Winners amidst the dip

• HDFC Bank: The bank’s market valuation jumped ₹37,162 crore to ₹15,38,079 crore.
• Bharti Airtel: The m-cap of firm climbed ₹20,841 crore to ₹11,04,840 crore
• ICICI Bank: The bank also registered gains by adding ₹35,814 crore, taking its valuation to ₹10,53,823 crore.

• State Bank of India: Its valuation went up by ₹9,685.34 crore to ₹7,44,449.31 crore.

Top-10 most valued companies in India by market cap

Reliance Industries retained the title of the most valued firm of India, followed by HDFC Bank, TCS, Bharti Airtel, ICICI Bank, State Bank of India, Infosys, Bajaj Finance, Hindustan Unilever and LIC.

(With inputs from PTI)

Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.