Indian market witnessed a collective decrease in its valuation of five of the top 10 valued firms by ₹1,67,936.21 crore last week, with HDFC Bank experiencing the most significant decline. The 30-share BSE benchmark reported a fall of 1,144.8 points, or 1.57 per cent, during the week. Both the NSE and BSE conducted regular trading sessions on January 20.
Among the top 10 firms, Reliance Industries, Tata Consultancy Services (TCS), HDFC Bank, Hindustan Unilever, and State Bank of India saw a reduction in their valuation, while ICICI Bank, Infosys, Bharti Airtel, Life Insurance Corporation of India (LIC), and ITC emerged as gainers.
HDFC Bank’s market valuation plummeted by ₹1,22,163.07 crore to ₹11,22,662.76 crore. The decline in HDFC Bank shares over three consecutive days, falling over 12 per cent, was attributed to investor disappointment with the company’s December quarter earnings. However, HDFC Bank shares rebounded on Saturday, recording a 0.54 per cent increase.
Reliance Industries witnessed a valuation drop of ₹18,199.35 crore to ₹18,35,665.82 crore. Hindustan Unilever’s market valuation diminished by ₹17,845.15 crore to ₹5,80,184.57 crore, and TCS experienced a decline of ₹7,720.6 crore, reaching ₹14,12,613.37 crore. State Bank of India’s market capitalisation dipped by ₹2,008.04 crore to ₹5,63,589.24 crore.
In contrast, LIC’s market capitalisation surged by ₹67,456.1 crore, reaching ₹5,92,019.78 crore. LIC surpassed State Bank of India (SBI) to become the country’s most valued PSU firm by market valuation.
Bharti Airtel added ₹26,380.94 crore to its market valuation, reaching ₹6,31,679.96 crore. Infosys experienced a rise of ₹15,170.75 crore, reaching ₹6,84,305.90 crore, while ICICI Bank’s market capitalisation rallied by ₹3,163.72 crore, reaching ₹7,07,373.79 crore. ITC’s valuation climbed by ₹2,058.48 crore to ₹5,84,170.38 crore.
Reliance Industries retained its position at the top of the top-10 most valued firms ranking chart, followed by TCS, HDFC Bank, ICICI Bank, Infosys, Bharti Airtel, LIC, ITC, Hindustan Unilever, and State Bank of India.
(With Inputs from PTI)
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Published: 21 Jan 2024, 11:26 AM IST
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