Dalal Street ended last week in the red, with five of India's 10 most valued firms losing nearly Rs 1 lakh crore in market capitalisation, according to Business-Today. IT major TCS suffered the steepest decline. The Sensex ended the week 489.92 points, or 0.62 per cent, lower, while the Nifty lost 204.65 points, or 0.83 per cent.
Market Drivers
Business-Today reported that elevated crude oil prices, renewed geopolitical uncertainty and mixed global cues weighed on investor sentiment. Ajit Mishra, SVP, Research, Religare Broking Ltd, told PTI:
"Markets ended the week lower as elevated crude oil prices, renewed geopolitical uncertainty and mixed global cues weighed on investor sentiment."
The Five Losers
Reliance Industries, HDFC Bank, ICICI Bank, State Bank of India and TCS were the five companies that witnessed a decline in market value, Business-Today reported. The individual declines were:
| Company | Change in Market Cap (Rs crore) | New Market Cap (Rs crore) |
|---|---|---|
| TCS | -34,263.28 | 8,53,506.85 |
| Reliance Industries | -31,869.13 | 17,70,056.06 |
| State Bank of India | -25,891.88 | 9,85,829.96 |
| HDFC Bank | -7,165.37 | 11,20,802.10 |
| ICICI Bank | -2,792.65 | 10,17,577.98 |
TCS's market capitalisation fell Rs 34,263.28 crore to Rs 8,53,506.85 crore. Reliance Industries followed, with its valuation declining Rs 31,869.13 crore to Rs 17,70,056.06 crore. State Bank of India's market value dropped Rs 25,891.88 crore to Rs 9,85,829.96 crore. HDFC Bank lost Rs 7,165.37 crore, taking its market capitalisation to Rs 11,20,802.10 crore. ICICI Bank saw its valuation fall by Rs 2,792.65 crore, leaving its market capitalisation at Rs 10,17,577.98 crore, according to Business-Today.
Gainers Add Rs 55,149.45 Crore
On the other hand, Bharti Airtel, Bajaj Finance, Larsen & Toubro, LIC and Hindustan Unilever ended the week with higher valuations, adding Rs 55,149.45 crore collectively, Business-Today reported. The gains were:
| Company | Increase (Rs crore) | New Market Cap (Rs crore) |
|---|---|---|
| LIC | 26,438.49 | 5,23,330.31 |
| Bharti Airtel | 20,592.13 | 12,43,016.11 |
| Bajaj Finance | 3,548.79 | 6,77,197.34 |
| Larsen & Toubro | 2,490.66 | 5,58,973.11 |
| Hindustan Unilever | 2,079.38 | 4,90,888.35 |
Among the gainers, LIC posted the largest increase, with its market valuation rising Rs 26,438.49 crore to Rs 5,23,330.31 crore. Bharti Airtel added Rs 20,592.13 crore to reach Rs 12,43,016.11 crore. Bajaj Finance's valuation increased Rs 3,548.79 crore to Rs 6,77,197.34 crore. Larsen & Toubro gained Rs 2,490.66 crore, taking its market capitalisation to Rs 5,58,973.11 crore, while Hindustan Unilever added Rs 2,079.38 crore to reach Rs 4,90,888.35 crore, according to Business-Today.
Most Valued Firms
Despite the weekly decline, Reliance Industries retained the top spot among the country's most valued firms, followed by Bharti Airtel, HDFC Bank, ICICI Bank, State Bank of India, TCS, Bajaj Finance, Larsen & Toubro, LIC and Hindustan Unilever, according to Business-Today.
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