The Indian stock market witnessed a consecutive fourth week of decline as Sensex tumbled by 373 points. Last week, both TCS and HDFC Bank suffered the most in terms of market capitalization. Explore the current status of the top 10 companies.
Last week, both Sensex and Nifty marked a 0.6% decline. Sensex closed at 64948 with a drop of 373 points, while Nifty closed at 19310. The market trend has weakened, facing consistent declines for the past four weeks. Last week, the collective market cap of the top 10 companies on Sensex saw a decline of Rs 80,200 crore. HDFC Bank and TCS investors were the most affected.
How Much Did the Market Cap of TCS and HDFC Bank Drop?
The market cap of Tata Consultancy Services (TCS) suffered a decline of Rs 29,895 crore, reaching Rs 12,32,240.44 crore. HDFC Bank’s market cap dropped by Rs 19,664 crore to reach Rs 12,02,728.20 crore. HDFC Bank’s shares closed at Rs 1590. In the past week, it registered a decline of 1.73% and a 5.17% decline in the last month. TCS’s shares closed at Rs 3367 last week. It experienced a decline of 2.37% during the week and a 3.71% drop in the last month.
Market Cap of 7 Companies in Top 10 Declined
Among the top 10 companies, the market valuation of Reliance Industries, Hindustan Unilever, and Infosys increased. However, Tata Consultancy Services (TCS), HDFC Bank, ICICI Bank, ITC, State Bank of India, Bharti Airtel, and Bajaj Finance faced a decrease in their valuations.
Reliance: The Most Valuable Company
The market valuation of Hindustan Unilever increased to Rs 12,347.1 crore. Infosys witnessed a market cap increase of Rs 6,972.87 crore, reaching Rs 5,76,379.26 crore. Reliance Industries’ market cap increased by Rs 5,886.09 crore, reaching Rs 17,29,764.68 crore. Among the top 10 companies, Reliance Industries remained the most valuable.