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India’s biggest listed companies saw a mixed performance last week, with seven of the country’s 10 most-valued firms recording a combined market capitalisation loss of around Rs 1.13 lakh crore.
Bharti Airtel and Reliance Industries accounted for the largest declines, while Tata Consultancy Services (TCS) led the gainers.
The broader market remained under pressure, with the Sensex dropping 276.32 points, or 0.35 per cent, and the Nifty falling 76.35 points, or 0.31 per cent, during the week.
Bharti Airtel’s market valuation fell by Rs 40,500.85 crore to Rs 11,74,462.30 crore.
Reliance Industries followed with a decline of Rs 40,056.32 crore, taking its valuation to Rs 17,38,119.27 crore.
HDFC Bank lost Rs 11,558.35 crore in market value to Rs 11,09,600.70 crore, while Bajaj Finance’s valuation declined by Rs 10,086.05 crore to Rs 6,70,535.57 crore.
Larsen & Toubro, Life Insurance Corporation of India and Hindustan Unilever recorded smaller losses of Rs 6,473.45 crore, Rs 3,162.50 crore and Rs 1,550.73 crore, respectively.
TCS was the strongest performer among the top 10 companies, adding Rs 16,643.20 crore to its market capitalisation, which reached Rs 8,48,079.71 crore.
ICICI Bank gained Rs 4,475.28 crore to Rs 10,22,805.73 crore, while State Bank of India added Rs 599.99 crore, taking its valuation to Rs 9,65,568.75 crore.
Despite the decline, Reliance Industries remained India’s most-valued company. Bharti Airtel, HDFC Bank, ICICI Bank, State Bank of India, TCS, Bajaj Finance, Larsen & Toubro, LIC and Hindustan Unilever followed.
Market analysts said the Sensex could strengthen its recovery if it moves decisively above 78,000, with 78,500-78,800 seen as the next potential zone. On the downside, 77,000 remains an important support level.
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