The previous week proved to be quite challenging for the stock market, with the Bombay Stock Exchange's key index, Sensex, experiencing a decline of more than 1%. Notably, major corporations in the country faced substantial losses, leading to a combined valuation drop of over ₹2 lakh crore for eight out of the top ten companies. The most affected were Tata Consultancy Services (TCS), Airtel, and Reliance Industries.
Impact on Major Companies
These three companies collectively suffered a loss of approximately ₹1.50 lakh crore, while the remaining firms saw a decrease of ₹50,000 crore. Conversely, Hindustan Unilever Limited (HUL), the largest FMCG company in India, and Bajaj Finance, a prominent NBFC, reported an increase in their stock valuations.
Valuation Declines in Detail Market Capitalization Losses
Companies with Increased Valuation
In contrast, Hindustan Unilever Limited's valuation rose by ₹42,363.13 crore, reaching ₹5,92,120.49 crore, following a nearly 5% surge in its shares on Friday. The company also announced the appointment of Priya Nair as its first female CEO and Managing Director. Additionally, Bajaj Finance's valuation increased by ₹5,033.57 crore, bringing it to ₹5,80,010.68 crore. In the ranking of the top ten companies, Reliance Industries maintained the top position, followed by HDFC Bank, TCS, Airtel, ICICI Bank, SBI, Infosys, LIC, Bajaj Finance, and Hindustan Unilever.
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