Stock Market Update: Reliance Industries and Bharti Airtel Face Market Capitalization Losses Amid Sensex Dip
The stock market witnessed a significant shift last week, with the market capitalization of six out of India’s top 10 companies seeing a substantial decline, totaling a loss of ₹1,55,721.12 crore. The BSE Sensex dropped by 237.8 points, or 0.29%, reflecting a broader dip in the market. Among the hardest-hit companies were Reliance Industries, Bharti Airtel, ICICI Bank, ITC, Hindustan Unilever (HUL), and Life Insurance Corporation of India (LIC).
Reliance Industries Suffers the Biggest Loss
Reliance Industries experienced the largest setback, with its market capitalization dropping by ₹74,563.37 crore, leaving its total valuation at ₹17,37,556.68 crore. This marks a significant fall for the country’s most valuable company.
Decline in Other Major Stocks
Other companies that saw declines in their market capitalization include:
- Bharti Airtel, which lost ₹26,274.75 crore, bringing its valuation down to ₹8,94,024.60 crore.
- ICICI Bank saw a drop of ₹22,254.79 crore, reducing its market cap to ₹8,88,432.06 crore.
- ITC faced a decline of ₹15,449.47 crore, leaving its market capitalization at ₹5,98,213.49 crore.
- LIC saw a decrease of ₹9,930.25 crore, and Hindustan Unilever‘s market cap shrank by ₹7,248.49 crore.
TCS, Infosys, and SBI See Positive Growth
On a positive note, several companies experienced significant gains:
- Tata Consultancy Services (TCS) saw its valuation soar by ₹57,744.68 crore, reaching ₹14,99,697.28 crore.
- Infosys added ₹28,838.95 crore to its market capitalization, which now stands at ₹7,60,281.13 crore.
- State Bank of India (SBI) also experienced an increase in market cap by ₹19,812.65 crore, bringing its total value to ₹7,52,568.58 crore.
Top 10 Most Valuable Companies
Despite the losses experienced by several heavyweights, Reliance Industries remains the most valuable company in India, followed by TCS, HDFC Bank, Bharti Airtel, ICICI Bank, Infosys, SBI, ITC, Hindustan Unilever, and LIC.
(Note: This article is not financial advice. The stock market carries risks, and investors should seek verified expert advice before making any investment decisions.)
