Top firms witness market valuation fluctuations

Market valuation fluctuations: In the preceding holiday-shortened week, the combined market valuation of six out of the top-10 most valued firms experienced a decline of Rs 68,417.14 crore. Notably, Bharti Airtel and Reliance Industries bore the brunt of this downturn. Among the laggards were also Life Insurance Corporation of India (LIC), Infosys, ITC, and Hindustan Unilever, while Tata Consultancy Services (TCS), HDFC Bank, ICICI Bank, and State Bank of India emerged as gainers.

During the week, the BSE benchmark saw a modest climb of 0.20 per cent. However, trading was halted on Wednesday due to Maharashtra Day celebrations.

Bharti Airtel's market capitalization (mcap) saw a notable dip of Rs 27,635.65 crore, settling at Rs 7,23,770.70 crore. Similarly, Reliance Industries witnessed a decline of Rs 23,341.56 crore, bringing its valuation to Rs 19,40,738.40 crore. Other notable declines included LIC, Infosys, ITC, and Hindustan Unilever.

Conversely, the State Bank of India observed a significant increase of Rs 26,907.71 crore in its mcap, reaching Rs 7,42,126.11 crore. ICICI Bank added Rs 24,651.55 crore, pushing its valuation to Rs 8,02,401.77 crore. TCS and HDFC Bank also saw gains, with their market capitalization rising by Rs 9,587.93 crore and Rs 6,761.25 crore, respectively.

Reliance Industries retained its position as the most valued firm among the top-10, followed by TCS, HDFC Bank, ICICI Bank, State Bank of India, Bharti Airtel, LIC, Infosys, ITC, and Hindustan Unilever.

(with PTI inputs)