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Market value of top Indian companies drops over Rs 78,000 crore as sentiment weakens

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The overall market value of six out of India’s ten most valued companies fell by a staggering Rs 78,166.08 crore last week, as weak sentiment continued to weigh down equity markets.Reliance Industries saw the sharpest erosion in value, reflecting the downturn in benchmark indices.The BSE Sensex dropped by 609.51 points or 0.74%, while the Nifty declined by 166.65 points or 0.66% over the course of the week, dragging several big players into the red.Among the top losers were Reliance Industries, TCS, ICICI Bank, State Bank of India, Infosys and Hindustan Unilever.Reliance Industries’ market capitalisation dropped by Rs 40,800.4 crore, bringing its total valuation down to Rs 19,30,339.56 crore. Tata Consultancy Services (TCS) also witnessed a notable decline of Rs 17,710.54 crore, ending the week with a valuation of Rs 12,71,395.95 crore.Infosys saw its market value dip by Rs 10,488.58 crore to Rs 6,49,876.91 crore, while Hindustan Unilever shed Rs 5,462.8 crore, closing at Rs 5,53,974.88 crore. ICICI Bank and State Bank of India saw relatively less drop of Rs 2,454.31 crore and Rs 1,249.45 crore respectively.Despite the overall market weakness, four firms in the top 10 managed to end the week in the green. Bharti Airtel emerged as the biggest gainer, adding Rs 10,121.24 crore to its mcap, which now stands at Rs 10,44,682.72 crore. Bajaj Finance added Rs 4,548.87 crore, ITC gained Rs 875.99 crore, and HDFC Bank saw a modest increase of Rs 399.93 crore in its market value.Reliance Industries retained its top spot as the most valuable company in the country, followed by HDFC Bank, TCS, Bharti Airtel, ICICI Bank, State Bank of India, Infosys, Bajaj Finance, Hindustan Unilever and ITC.Market watchers remain cautious, as volatility is expected to continue in the short term.

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