Reliance, TCS Among Top Seven Firms To Lose A Combined Market Value Of Rs 1.22 Lakh Crore

The combined market valuation of seven of the top-10 most valued firms eroded by Rs 1,22,107.11 crore last week, with Reliance Industries Ltd. and Tata Consultancy Services Ltd. emerging as the biggest laggards, in line with the weak trend in equities.

Last week, the BSE benchmark fell 307.09 points, or 0.37%, to 81,381.36.

The valuation of Reliance Industries slumped Rs 21,351.71 crore to Rs 18,55,366.53 crore.

The market valuation of the country's largest IT firm TCS tumbled Rs 35,638.16 crore to Rs 15,01,723.41 crore.

ITC's valuation dropped Rs 18,761.4 crore to Rs 6,10,933.66 crore, while that of Hindustan Unilever Ltd.'s market capitalisation was down Rs 16,047.71 crore to Rs 6,53,315.60 crore.

The market valuation of Life Insurance Corp. tanked Rs 13,946.62 crore to Rs 6,00,179.03 crore, while that of ICICI Bank eroded Rs 11,363.35 crore to Rs 8,61,696.24 crore.

HDFC Bank's mcap declined Rs 4,998.16 crore to Rs 12,59,269.19 crore.

However, Bharti Airtel added Rs 26,330.84 crore, taking its market valuation to Rs 9,60,435.16 crore.

The market cap of Infosys climbed Rs 6,913.33 crore to Rs 8,03,440.41 crore and that of State Bank of India was up Rs 3,034.36 crore to Rs 7,13,968.95 crore.

RIL remained the most-valued domestic firm followed by TCS, HDFC Bank, Bharti Airtel, ICICI Bank, Infosys, State Bank of India, HUL, ITC and LIC.

According to a report from Client Associates, a leading multi-family office, the Indian stock market has remained largely unfazed by global geopolitical risks in recent years.

Both BSE Sensex and BSE 500 have delivered positive returns over the past five years, indicating a multi-year bull run, it said.

"Our findings challenge the perception that these external factors have severely impacted our economy. Indian equity markets have largely shrugged off recent geopolitical tensions, including the Russia-Ukraine war and ongoing Middle Eastern conflicts. This resilience is a testament to the underlying strength of the Indian economy," Client Associates Co-founder Rohit Sarin said.

Falling inflation rate gives the Reserve Bank of India room to potentially reduce interest rates in the future, which would further stimulate the economy, the report added.

With regard to the recent Chinese stimulus package attracting global attention, Sarin said, any investment in China markets should be tactical rather than long-term, with clearly defined entry and exit strategies.