Daijiworld Media Network – Mumbai
Mumbai, May 25: The Indian equity markets closed last week on a subdued note, with six of the country's ten most valued companies collectively losing a massive Rs 78,166.08 crore in market capitalisation. The sharp decline was attributed to sustained weak investor sentiment and volatile global cues that kept traders on edge.
Reliance Industries, India’s most valued company, bore the brunt of the downturn, with its market cap plunging by Rs 40,800.4 crore, bringing its valuation to Rs 19,30,339.56 crore. The fall mirrored a general slide in the benchmark indices, with the BSE Sensex slipping 609.51 points or 0.74%, and the Nifty shedding 166.65 points or 0.66% over the week.
- Tata Consultancy Services (TCS) lost Rs 17,710.54 crore, ending with a valuation of Rs 12,71,395.95 crore.
- Infosys witnessed an erosion of Rs 10,488.58 crore, taking its mcap down to Rs 6,49,876.91 crore.
- Hindustan Unilever dipped by Rs 5,462.8 crore, closing at Rs 5,53,974.88 crore.
- ICICI Bank and State Bank of India (SBI) recorded relatively modest declines of Rs 2,454.31 crore and Rs 1,249.45 crore respectively.
Defying the broader market trend, four companies registered gains in market value:
- Bharti Airtel emerged as the biggest gainer, adding Rs 10,121.24 crore to reach Rs 10,44,682.72 crore.
- Bajaj Finance added Rs 4,548.87 crore.
- ITC grew by Rs 875.99 crore.
- HDFC Bank posted a modest gain of Rs 399.93 crore.
Despite the volatile market, Reliance Industries continues to dominate as India’s most valuable company, followed by HDFC Bank, TCS, Bharti Airtel, ICICI Bank, SBI, Infosys, Bajaj Finance, Hindustan Unilever, and ITC.
Market analysts suggest a cautious stance in the near term as volatility and global uncertainties are likely to persist. “Investors are advised to stay alert and maintain a balanced portfolio amidst the ongoing market fluctuations,” noted a Mumbai-based analyst.
As investors navigate through these turbulent times, all eyes will remain on macroeconomic indicators, global market cues, and policy updates that could influence the market’s next move.