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Published: Mar 27, 2023
Updated: Mar 27, 2023

Indian Stock Market Update: Five Top Firms Experience Market Value Erosion

Last week, five out of the top 10 most valued firms in India experienced a decline in market valuation, resulting in a combined loss of Rs 86,447.12 crore. Infosys, Tata Consultancy Services (TCS), and State Bank of India took the hardest hit among the affected companies. Meanwhile, ICICI Bank, Hindustan Unilever Limited, ITC, HDFC, and Bharti Airtel all posted gains. Here are the details of the market performance.

Market Performance of Affected Firms The Bombay Stock Exchange (BSE) benchmark fell by 462.8 points or 0.79% last week. This led to a decline in market valuation for five of the top 10 most valued firms in India.

Infosys:

The mcap of Infosys tumbled by Rs 25,217.2 crore to Rs 5,72,687.97 crore.

State Bank of India:

The valuation of State Bank of India fell Rs 21,062.08 crore to Rs 4,51,228.38 crore.

Tata Consultancy Services:

The mcap of TCS tanked Rs 21,039.55 crore to Rs 11,42,154.59 crore.

Reliance Industries Limited:

The mcap of Reliance Industries declined by Rs 13,226.53 crore to Rs 14,90,775.40 crore.

HDFC Bank:

HDFC Bank's mcap dipped by Rs 5,901.76 crore to Rs 8,71,416.33 crore.

Gains in Market Valuation:

ICICI Bank:

ICICI Bank added Rs 10,905.18 crore, taking its valuation to Rs 5,94,888.25 crore.

Hindustan Unilever Limited:

The valuation of Hindustan Unilever rallied Rs 7,542.19 crore to Rs 5,82,816.11 crore.

ITC:

ITC climbed Rs 3,664.01 crore to Rs 4,70,360.22 crore.

Bharti Airtel:

Bharti Airtel's mcap jumped Rs 2,787.57 crore to Rs 4,24,964.64 crore.

HDFC:

HDFC advanced Rs 384.89 crore to Rs 4,69,845.34 crore.

Top 10 Most Valued Firms in India

Reliance Industries continued to lead the top 10 most valued firms chart, followed by TCS, HDFC Bank, ICICI Bank, Hindustan Unilever, Infosys, ITC, HDFC, State Bank of India, and Bharti Airtel.

The recent decline in market valuation for some of the top companies in India is a reminder that the stock market is unpredictable and volatile. However, the gains for other firms show that there are still opportunities for investors in the Indian stock market