In a long tough week for the Indian stock market, ten out of the six most valuable companies have seen a major drop in their market capitalization while losing a combined ₹2.22 lakh crore. Reliance Industries took the biggest hit, losing over ₹1.14 lakh crore in market value.
The decline came
The BSE benchmark index slipped by 294.64 points, or 0.36%, as investors reacted with caution to mixed signals from both global and domestic markets. Experts say the fall was influenced by the weak performance in tech and consumer stocks, foreign fund withdrawals, and uncertainty around the trade deals ahead of the August 1.
Breakdown of the losses:
- Reliance Industries: Lost ₹1,14,687.7 crore and is now valued at ₹18,83,855.52 crore
- Infosys: Dropped ₹29,474.56 crore with current value of ₹6,29,621.56 crore
- LIC: Fell ₹23,086.24 crore which is now at ₹5,60,742.67 crore
- TCS: Down ₹20,080.39 crore which is valued at ₹11,34,035.26 crore
- Bajaj Finance: Lost ₹17,524.3 crore and is now ₹5,67,768.53 crore
- Hindustan Unilever: Dropped ₹17,339.98 crore with current value of ₹5,67,449.79 crore
Despite of the the overall decline, four companies have managed to grow their market value:
- HDFC Bank: Gained ₹37,161.53 crore and is now at ₹15,38,078.95 crore
- ICICI Bank: Added ₹35,814.41 crore and valued at ₹10,53,823.14 crore
- Bharti Airtel: Rose by ₹20,841.2 crore and is now ₹11,04,839.93 crore
- State Bank of India: Increased by ₹9,685.34 crore, reaching to ₹7,44,449.31 crore
Reliance Industries still holds at the top spot as India’s most valued company, followed by the HDFC Bank, TCS, Bharti Airtel, and ICICI Bank.
Market analysts believe that while banking stocks have showed strength due to the solid earnings, other sectors have struggled. The volatility is expected to continue until there’s even more clarity on the global trade and economic policies.
