The combined market valuation of nine of the top ten valued companies declined by ₹3.12 lakh crore last week, with Reliance Industries experiencing the largest drop.
During this period, the 30-share BSE Sensex fell by 2,090.2 points, or 2.7%, while the 50-share NSE Nifty decreased by 532.65 points, or 2.2%. Ajit Mishra, Senior Vice President of Research at Religare Broking Ltd, noted, “Markets ended the week lower, breaking out of their three-week consolidation phase amid lingering geopolitical tensions in West Asia, persistent weakness in the rupee, and rising inflationary concerns.”
A notable contributor to market anxiety was the sharp rise in crude oil prices, which surpassed the $105-per-barrel mark, exacerbating fears regarding imported inflation, fiscal stress, and corporate margin pressures.
Among the top ten firms, Bharti Airtel was the only company to report an increase in valuation. Reliance Industries saw a market capitalization drop of ₹1,34,445.77 crore, settling at ₹18,08,420.81 crore. The valuation of State Bank of India decreased by ₹52,245.3 crore to ₹8,88,862.32 crore, while Tata Consultancy Services (TCS) experienced a decline of ₹47,415.04 crore, bringing its valuation to ₹8,19,062.65 crore. Bajaj Finance’s market value fell by ₹27,892.28 crore to ₹5,66,717.74 crore.
Additionally, the market capitalization of HDFC Bank decreased by ₹20,630.01 crore to ₹11,82,069.25 crore, and ICICI Bank saw a reduction of ₹14,290 crore, resulting in a value of ₹8,92,385.39 crore. Larsen & Toubro’s valuation dropped by ₹9,078.87 crore to ₹5,37,542.34 crore, and Hindustan Unilever’s market cap fell by ₹3,970.8 crore to ₹5,33,592.18 crore. Life Insurance Corporation of India’s (LIC) market capitalization decreased by ₹2,182.12 crore to ₹5,05,367.32 crore.
In contrast, Bharti Airtel’s market valuation rose by ₹42,470.13 crore to reach ₹11,60,525.16 crore. Reliance Industries remains the most valued firm, followed by HDFC Bank, Bharti Airtel, ICICI Bank, State Bank of India, TCS, Bajaj Finance, Larsen & Toubro, Hindustan Unilever, and LIC.
Published on May 17, 2026.
