Top-10 firms lose ₹1 lakh crore in market last week:HDFC Bank biggest loser; HUL also declines

Amid volatility in the stock market last week, five of the country’s top-10 companies suffered heavy losses. Their combined market capitalisation fell by ₹1.02 lakh crore. HDFC Bank was hit the hardest, with its value dropping by more than ₹56,000 crore alone. On the other hand, companies like Reliance Industries and Bharti Airtel managed to increase their valuation despite the market downturn. HDFC Bank takes ₹56,124 crore hit HDFC Bank led the decline in market capitalisation, with its value dropping by ₹56,124.48 crore to ₹12,01,267.28 crore. Apart from this, FMCG major Hindustan Unilever (HUL) saw its market value fall by ₹18,009.62 crore. Bajaj Finance lost ₹15,338.42 crore, while IT giant Tata Consultancy Services (TCS) saw a decline of ₹7,127.63 crore. The valuation of ICICI Bank also slipped by ₹6,171.72 crore. Reliance and Airtel see market cap gains Despite the overall decline, five companies posted gains during the week. The market value of Reliance Industries rose by ₹45,942.75 crore to ₹19,14,235.92 crore. Investors of Bharti Airtel also had a good week, with the company’s valuation increasing by ₹24,462.03 crore. In addition, State Bank of India gained ₹10,707 crore, Life Insurance Corporation of India (LIC) added ₹2,624 crore, and Infosys rose by ₹2,473 crore. There was a marginal decline in Sensex and Nifty The domestic stock market ended almost flat last week. The BSE Sensex slipped 30.96 points, or 0.04%, while the NSE Nifty 50 fell 36.6 points, or 0.15%, to close lower. Market experts say the sentiment remained positive during the first three days of the week, but a sharp fall on Thursday wiped out all the gains. Significant volatility was also seen in the market on the last trading day. What do market experts say? Ajit Mishra, SVP (Research) at Religare Broking Limited, said, “There is currently a cautious mood in the market. The week started on a positive note, but selling pressure at higher levels reduced the gains. Investors are now watching global cues and domestic economic data in the coming days.” Reliance still India’s No. 1 company In terms of market capitalisation, Reliance Industries remains India’s most valuable company. It is followed by HDFC Bank, Bharti Airtel, State Bank of India, ICICI Bank, Tata Consultancy Services, Bajaj Finance, Infosys, Life Insurance Corporation of India and Hindustan Unilever.