Mumbai, Mar 1: The market capitalisation of Tata Consultancy Services (TCS) dropped by Rs 18,180.89 crore last week, bringing its total valuation down to Rs 9,53,872.59 crore, as equity markets remained under pressure.
Overall, nine of the top-10 most valued companies together lost Rs 2,18,902.09 crore in market valuation during the week — reflecting a bearish trend in the stock market.
The BSE benchmark index declined sharply by 1,527.52 points, or 1.84 per cent, over the same period.
According to Ajit Mishra, SVP, Research at Religare Broking Limited, equity markets ended the week under notable pressure due to persistent geopolitical tensions and weakness in technology stocks, which hurt overall investor sentiment.
Among the biggest losers, Bharti Airtel saw the sharpest fall in valuation, with its market cap tumbling by Rs 55,852.12 crore to Rs 10,71,853.25 crore.
HDFC Bank also witnessed a significant decline of Rs 37,580.1 crore, taking its valuation to Rs 13,65,659.38 crore.
The market valuation of Reliance Industries fell by Rs 34,846.12 crore to Rs 18,86,832.66 crore.
Bajaj Finance lost Rs 20,316.41 crore, with its mcap dropping to Rs 6,20,070.59 crore.
The valuation of Life Insurance Corporation of India (LIC) declined by Rs 14,990.24 crore to Rs 5,37,213.68 crore, while Larsen & Toubro saw its market cap fall by Rs 13,714.85 crore to Rs 5,88,837.39 crore.
State Bank of India lost Rs 13,061.33 crore, taking its valuation to Rs 11,09,520.23 crore. ICICI Bank also saw its mcap dip by Rs 10,360.03 crore to Rs 9,86,986.64 crore.
In contrast, Hindustan Unilever emerged as the only gainer among the top-10 firms. Its market valuation rose by Rs 5,462.81 crore to Rs 5,49,393.18 crore.
Despite the weekly losses, Reliance Industries retained its position as the most valued company in India, followed by HDFC Bank, State Bank of India, Bharti Airtel, ICICI Bank and TCS.
The list also included Bajaj Finance, Larsen & Toubro, Hindustan Unilever and LIC.
–IANS