Top 7 Giants Lose ₹1.22 Lakh Crore in Market Value; TCS & Reliance Take the Biggest Hit! Multibagger Stock Hits 5% Upper Circuit After Q2 Surge

The market value of seven out of the top ten most valuable companies in India fell by ₹1.22 lakh crore last week, with Tata Consultancy Services (TCS) and Reliance Industries seeing the biggest losses. This drop was in line with the overall weak performance of the stock market, as the BSE benchmark index fell by 307.09 points (0.37%) to close at 81,381.36.

TCS, the largest IT company in India, saw its market valuation drop by ₹35,638.16 crore to ₹15,01,723.41 crore. Reliance Industries also experienced a significant decline, with its value decreasing by ₹21,351.71 crore to ₹18,55,366.53 crore.

Other companies that saw a drop in their market value included ITC, which lost ₹18,761.4 crore, bringing its total to ₹6,10,933.66 crore, and Hindustan Unilever, which saw a decrease of ₹16,047.71 crore, lowering its value to ₹6,53,315.60 crore. Life Insurance Corporation of India (LIC) dropped by ₹13,946.62 crore to ₹6,00,179.03 crore, and ICICI Bank lost ₹11,363.35 crore, bringing its valuation down to ₹8,61,696.24 crore. HDFC Bank’s market value also dropped by ₹4,998.16 crore to ₹12,59,269.19 crore.

However, there were some gains. Bharti Airtel’s market value increased by ₹26,330.84 crore, reaching ₹9,60,435.16 crore, while Infosys saw a rise of ₹6,913.33 crore, bringing its total to ₹8,03,440.41 crore. State Bank of India (SBI) also gained ₹3,034.36 crore, raising its valuation to ₹7,13,968.95 crore.

Despite these fluctuations, Reliance Industries remains the most valuable company in India, followed by TCS, HDFC Bank, Bharti Airtel, ICICI Bank, Infosys, SBI, Hindustan Unilever, ITC, and LIC.

A report by Client Associates, a financial advisory firm, highlighted that the Indian stock market has remained stable despite global geopolitical risks. Over the past five years, both the BSE Sensex and BSE 500 have delivered positive returns, reflecting a long-term bull market.

The report also noted that India’s stock market has shown resilience, unaffected by major international events like the Russia-Ukraine war and ongoing conflicts in the Middle East. This strength, the report says, highlights the solid foundation of the Indian economy.

Additionally, the report pointed out that the falling inflation rate gives the Reserve Bank of India (RBI) the flexibility to potentially lower interest rates in the future, which could further boost the economy.

Regarding China’s recent stimulus package, Client Associates co-founder Rohit Sarin advised that any investment in Chinese markets should be seen as short-term and should involve clearly defined entry and exit strategies.