Market recap: Top 5 firms lose Rs 1 lakh crore in market value; TCS, Reliance suffer biggest hit

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, with IT major TCS suffering the steepest decline. Sensex ended the week 489.92 points, or 0.62 per cent, lower, while Nifty lost 204.65 points, or 0.83 per cent.“Markets ended the week lower as elevated crude oil prices, renewed geopolitical uncertainty and mixed global cues weighed on investor sentiment,” Ajit Mishra, SVP, Research, Religare Broking Ltd, told PTI.Reliance Industries, HDFC Bank, ICICI Bank, State Bank of India and TCS were the five companies that witnessed a decline in market value. 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.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 in valuation, taking its market capitalisation to Rs 11,20,802.10 crore.ICICI Bank also saw its valuation fall, with a decline of Rs 2,792.65 crore leaving its market capitalisation at Rs 10,17,577.98 crore.Among the gainers, LIC posted the largest increase. Its market valuation rose Rs 26,438.49 crore to Rs 5,23,330.31 crore.Bharti Airtel added Rs 20,592.13 crore to its market value, which stood at 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.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.