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Market recap: Eight of top 10 firms lose Rs 1.55 lakh crore

By · Via Times of India · Published by Everything Blog

In short

Eight of India's top 10 most valuable companies saw their market capitalisation decline by Rs 1.55 lakh crore last week, with HDFC Bank and Bajaj Finance being the biggest losers, while Tata Consultancy Services and Larsen & Toubro were the only gains. The benchmark indices experienced sharp losses, with the BSE Sensex falling 1,605.44 points and the NSE Nifty dropping 546.15 points. The total market capitalisation of BSE-listed companies fell by Rs 20,78,774.28 crore over four trading sessions, marking a 2.15 per cent decrease.

Key points

  • The combined market valuation of eight of India's top 10 most valuable companies declined…: The combined market valuation of eight of India's top 10 most valuable companies declined by Rs 1.55 lakh crore last week.
  • HDFC Bank and Bajaj Finance emerged as the biggest losers, with their market capitalisati…: HDFC Bank and Bajaj Finance emerged as the biggest losers, with their market capitalisation falling by Rs 55,506.95 crore and Rs 34,180.51 crore, respectively.
  • The benchmark indices experienced sharp losses, with the BSE Sensex falling 1,605.44 poin…: The benchmark indices experienced sharp losses, with the BSE Sensex falling 1,605.44 points and the NSE Nifty dropping 546.15 points.

Sources checked by our analysis pipeline: 1

NEW DELHI: The combined market valuation of eight of India’s top 10 most valuable companies declined by Rs 1.55 lakh crore last week, with HDFC Bank and Bajaj Finance emerging as the biggest losers. Tata Consultancy Services (TCS) and Larsen & Toubro (L&T) were the only two firms in the top 10 to record gains in their market capitalisation.

The decline came as benchmark equity indices registered sharp losses during a holiday-truncated week. The 30-share BSE Sensex fell 1,605.44 points, or 2.15 per cent, while the 50-share NSE Nifty dropped 546.15 points, or 2.36 per cent.

Reflecting the weak performance of equities, the total market capitalisation of BSE-listed companies declined by Rs 20,78,774.28 crore over four trading sessions to Rs 4,51,83,393.14 crore. The figure stood at Rs 4,72,62,167.42 crore on October 16.

Among the eight companies that reported a decline in valuation, HDFC Bank recorded the steepest fall. Its market capitalisation dropped by Rs 55,506.95 crore to Rs 10,67,121.12 crore, while its stock lost 5 per cent over the week.

Bajaj Finance followed, with its valuation falling by Rs 34,180.51 crore to Rs 5,77,146.21 crore. Reliance Industries saw its market capitalisation decline by Rs 27,065.08 crore to Rs 16,10,372.11 crore.

Life Insurance Corporation of India (LIC) also registered a substantial fall, with its valuation shrinking by Rs 21,062.24 crore to Rs 4,81,142.58 crore.

Bharti Airtel's market capitalisation declined by Rs 9,360.75 crore to Rs 11,79,454.70 crore, while State Bank of India's valuation fell by Rs 4,338.46 crore to Rs 8,83,384.38 crore.

Infosys recorded a decline of Rs 2,881.38 crore in its market capitalisation, which stood at Rs 4,68,528.03 crore. ICICI Bank's valuation decreased by Rs 1,276.53 crore to Rs 10,01,594.91 crore.

In contrast, TCS and L&T ended the week with gains. TCS added Rs 23,517.56 crore to its market capitalisation, taking it to Rs 9,14,652.52 crore. L&T's valuation rose by Rs 1,788.66 crore to Rs 5,01,513.72 crore.

Despite the weekly decline, Reliance Industries remained India's most valuable company, followed by Bharti Airtel and HDFC Bank. ICICI Bank ranked fourth, ahead of TCS and State Bank of India. Bajaj Finance occupied the seventh position, followed by L&T, LIC and Infosys.

Original source: timesofindia.indiatimes.com

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