Last week, the market landscape for India’s top-10 most valuable companies witnessed significant shifts. Six of these leading firms saw their market capitalization decrease by a collective ₹71,414 crore, with the state-owned behemoth, Life Insurance Corporation of India (LIC), heading the decline. The downturn impacted LIC, Tata Consultancy Services (TCS), ITC, Hindustan Unilever, Bharti Airtel, and Reliance Industries, marking a notable shrinkage in their market value.
On the flip side, State Bank of India, Infosys, HDFC Bank, and ICICI Bank bucked the trend by registering gains, which bolstered their collective market capitalization by ₹62,038.86 crore.
Despite these shifts, the BSE benchmark index managed to advance by 831.15 points, or 1.16%, indicating a complex investor sentiment landscape. LIC faced the steepest drop, with its market valuation decreasing by ₹26,217.12 crore to ₹6,57,420.26 crore. TCS and ITC also experienced significant declines in their market capitalizations, along with Hindustan Unilever, which saw its value decrease substantially.
Meanwhile, Bharti Airtel and Reliance Industries saw more modest reductions in their market values. Noteworthy is Reliance Industries’ achievement of crossing the ₹20 lakh crore market capitalization threshold, setting a record as it reached a 52-week high share price.
Conversely, the State Bank of India enjoyed a significant boost in its market value, along with Infosys, HDFC Bank, and ICICI Bank, all of which saw notable increases in their market capitalizations.
These fluctuations in market capitalization among India’s top-10 most valued companies highlight the dynamic nature of the stock market, showcasing the ever-changing fortunes of its leading entities. Reliance Industries maintained its position at the forefront, followed by industry giants such as TCS, HDFC Bank, and others, illustrating the ongoing reshuffling within the upper echelons of India’s corporate landscape.
