The combined market capitalisation of seven of the top 10 most-valued companies in India declined by around ₹1.13 lakh crore last week, according to livemint.com. Bharti Airtel and Reliance Industries were the biggest laggards in this downturn. The broader equity market also showed weakness during this period.
The decline coincided with a 276.32-point drop in the BSE Sensex, or 0.35%, and a 76.35-point fall in the NSE Nifty, or 0.31%, on Friday. This broad market weakness contributed to the erosion in valuations of these leading firms. Bharti Airtel and Reliance Industries, two of the most heavily weighted stocks in the indices, saw the sharpest declines in their market capitalisation, amplifying the overall loss.
The fall in market capitalisation among these top firms highlights the volatility in the Indian equity market amid global and domestic factors. Reliance Industries and Bharti Airtel are among the largest contributors to the benchmark indices, so their performance significantly impacts overall market trends. This drop follows a period of gains, reflecting investor caution and profit booking in key sectors.
The market movements last week underscore the sensitivity of India’s top companies to broader economic and market conditions. The BSE Sensex and NSE Nifty will next report official closing figures on Monday, September 1, providing a clearer picture of whether this downward trend continues or stabilizes.