Weekly market recap: Mcap of six of top 10 most valued firms falls by ₹2.22 lakh crore; RIL biggest laggard

Last week, the BSE benchmark gauge SENSEX declined by 294.64 points, or 0.36%.

Analysts said markets ended lower for the fourth straight week as caution prevailed amid mixed cues.

Earnings announcements initially influenced the market's direction. However, a dip in stocks such as RIL, Bajaj Finance, and others capped the recovery. Apart from these, foreign fund (FII) outflows and uncertainty over trade deals with the US ahead of the August 1 deadline kept investors on tenterhooks.

From the top 10 pack, Reliance Industries, Tata Consultancy Services (TCS), Infosys, Bajaj Finance, Hindustan Unilever, and Life Insurance Corporation of India (LIC) suffered a combined erosion of ₹2,22,193.17 crore from their market valuation.

HDFC Bank, Bharti Airtel, ICICI Bank, and State Bank of India made gains in their valuation.

The valuation of Reliance Industries (RIL) tumbled ₹114,687.7 crore to ₹1,883,855.52 crore, the most among the top 10 firms.

Infosys faced an erosion of ₹29,474.56 crore to ₹6,29,621.56 crore from its market capitalisation (mcap).

The valuation of LIC tanked ₹23,086.24 crore to ₹560,742.67 crore, and that of TCS dropped by ₹20,080.39 crore to ₹1,134,035.26 crore.

The mcap of Bajaj Finance declined by ₹17,524.3 crore to ₹567,768.53 crore, and that of Hindustan Unilever (HUL) fell by ₹17,339.98 crore to ₹567,449.79 crore.

However, the market valuation of HDFC Bank jumped from ₹37,161.53 crore to ₹15,38,078.95 crore.

ICICI Bank added ₹35,814.41 crore, taking its valuation to ₹10,53,823.14 crore.

The mcap of Bharti Airtel climbed ₹20,841.2 crore to ₹11,04,839.93 crore, and that of State Bank of India (SBI) went up by ₹9,685.34 crore to ₹7,44,449.31 crore.

Reliance Industries (RIL) remained the most valued domestic firm, followed by HDFC Bank, TCS, Bharti Airtel, ICICI Bank, State Bank of India, Infosys, Bajaj Finance, Hindustan Unilever, and LIC.

How market fared on Friday

Stock markets declined for the second day in a row on Friday, July 25, with the S&P BSE SENSEX tumbling 721 points due to heavy selling in financial, IT, and oil & gas shares amid persistent foreign fund outflows.

The 30-share BSE Sensex tanked 721.08 points, or 0.88%, to settle at over a month's low of 81,463.09. During the day, it plunged 786.48 points, or 0.95%, to 81,397.69.

The 50-share NSE Nifty dropped 225.10 points, or 0.90%, to a month's low of 24,837.

Analysts said a weak trend in Asian and European markets also dented investors' sentiment.