MCap of 6 leading firms in top 10 sees ₹57,408 crore dip; TCS, HDFC Bank worst hit

The collective market capitalization of six out of the top 10 most valued companies witnessed a decline of ₹57,408.22 crore, till January 5. Tata Consultancy Services (TCS) and HDFC Bank were the hardest hit, aligning with subdued trends in the equity market.

Despite reaching an all-time high of 72,561.91 on January 1, the BSE benchmark recorded a decline of 214.11 points, or 0.29 per cent.

Also Read | Over 45 BSE small-cap stocks surge between 15-50% even as market ends week flat

Among the top-10 firms, TCS experienced the most significant drop in market valuation, falling by ₹20,929.77 crore to ₹13,67,661.93 crore. HDFC Bank's market capitalization decreased by ₹20,536.48 crore to ₹12,77,435.56 crore. Hindustan Unilever witnessed a dip of ₹10,114.99 crore, reaching ₹6,15,663.40 crore.

Also Read | How will HDFC Bank, Axis Bank, SBI and others perform in 2024? 5 key trends that will determine banks' performance

Infosys observed a decrease of ₹4,129.69 crore in market capitalization, settling at ₹6,36,222.11 crore. ICICI Bank's valuation dropped by ₹1,608.05 crore to ₹6,97,357.42 crore. The market capitalization of State Bank of India decreased by ₹89.24 crore to ₹5,72,826.22 crore.

Also Read | HDFC Bank Q3 Update: Gross advances rise 62.4% to ₹24.69 lakh crore; deposits up 27.7% YoY

On a positive note, Reliance Industries saw a surge of ₹14,816.85 crore, reaching ₹17,63,644.77 crore. ITC added ₹14,409.32 crore, bringing its valuation to ₹5,91,219.09 crore. Bharti Airtel's market valuation increased by ₹8,200.55 crore, reaching ₹5,88,846.09 crore. Life Insurance Corporation of India (LIC) experienced a rise of ₹7,020.75 crore, reaching ₹5,34,082.81 crore.

Reliance Industries maintained its position as the most valued firm, followed by TCS, HDFC Bank, ICICI Bank, Infosys, Hindustan Unilever, ITC, Bharti Airtel, State Bank of India, and LIC.

(With Inputs from PTI)