Top Firms Lose Market Value; TCS and Infosys Take Biggest Hit

  • Market valuation of six top firms drops by Rs 1,40,478.38 crore in a week, with TCS and Infosys witnessing significant declines.
  • TCS’s market cap falls by Rs 62,538.64 crore, while Infosys faces an erosion of Rs 30,488.12 crore.
  • Despite losses, Reliance Industries remains the most valued company, followed by HDFC Bank and Bharti Airtel.

The market took a hit last week as the combined valuation of six top firms plummeted by Rs 1,40,478.38 crore. Among them, IT giants Tata Consultancy Services (TCS) and Infosys bore the brunt of the decline, with TCS witnessing the most substantial drop in market cap at Rs 62,538.64 crore. Infosys wasn’t far behind, suffering an erosion of Rs 30,488.12 crore from its valuation.

While TCS and Infosys faced losses, other firms in the top 10, including Reliance Industries, HDFC Bank, and Bharti Airtel, saw gains in their market valuation. Reliance Industries retained its position as the most valued company despite facing a modest increase of Rs 4,397.82 crore in its market cap. HDFC Bank and Bharti Airtel also witnessed upward trends in their market valuation, reflecting resilience amidst market fluctuations.

The fluctuations in market valuation highlight the dynamic nature of the stock market, influenced by various factors such as company performance, market sentiment, and economic indicators. Despite the setbacks faced by some top firms, the overall market remains fluid, with opportunities for growth and recovery.