The combined market valuation of four of the ten largest firms in India declined by ₹1 lakh crore last week, with State Bank of India experiencing the largest drop amid a stable trend in equities.
During this period, the BSE Sensex increased by 414.69 points, or 0.53%, while the NSE Nifty rose by 178.6 points, or 0.74%.
“Indian equity markets experienced a volatile and range-bound week, marked by cautious sentiment despite occasional recovery attempts. Initial optimism fueled by hopes for de-escalation in the Middle East and falling oil prices diminished quickly as renewed tensions between the US and Iran surfaced,” stated Ponmudi R, CEO of Enrich Money, an online trading and wealth management firm.
Among those experiencing valuation declines were Bharti Airtel, State Bank of India, Tata Consultancy Services (TCS), and Larsen & Toubro. Conversely, Reliance Industries, HDFC Bank, ICICI Bank, Bajaj Finance, Hindustan Unilever, and Life Insurance Corporation of India (LIC) saw increases in their valuations. Altogether, these firms added ₹46,685.21 crore to their market valuations.
State Bank of India reported a decrease of ₹44,722.34 crore, bringing its valuation down to ₹9,41,107.62 crore. Bharti Airtel lost ₹31,167.1 crore, resulting in a valuation of ₹11,18,055.03 crore. Meanwhile, TCS’s market capitalization fell by ₹28,456.26 crore to ₹8,66,477.69 crore, and Larsen & Toubro’s decreased by ₹5,371.84 crore to ₹5,46,621.21 crore.
On the other hand, HDFC Bank’s valuation rose by ₹15,425.09 crore, reaching ₹12,02,699.26 crore. Bajaj Finance experienced a surge of ₹11,486.89 crore, increasing its value to ₹5,94,610.02 crore. Hindustan Unilever added ₹8,763.97 crore, raising its valuation to ₹5,37,562.98 crore. Reliance Industries saw an increase of ₹6,563.28 crore, bringing its market value to ₹19,42,866.58 crore, while LIC gained ₹2,751.37 crore to reach a valuation of ₹5,07,549.44 crore. Lastly, ICICI Bank’s market valuation edged up by ₹1,694.61 crore to ₹9,06,675.39 crore.
As of now, Reliance Industries tops the list as the most valued firm, followed by HDFC Bank, Bharti Airtel, State Bank of India, ICICI Bank, TCS, Bajaj Finance, Larsen & Toubro, Hindustan Unilever, and LIC.
Published on May 10, 2026.
