Bajaj Finance Loses Over Rs 5,100 Crore in Market Value This Week

Mumbai - Bajaj Finance emerged as one of the notable laggards last week as the combined market capitalisation of seven out of India’s top 10 most valued companies declined by Rs 35,439.36 crore, amid subdued equity market activity during a holiday-shortened trading week.

The market value of Bajaj Finance dropped by Rs 5,102.43 crore, bringing its total valuation down to Rs 6,22,124.01 crore, according to official data.

Overall market movement remained muted, with the BSE benchmark index registering a marginal gain of 112.09 points, or 0.13 per cent, over the week.

Several heavyweight stocks from the top-10 list recorded significant losses in valuation. State Bank of India suffered the steepest decline, with its market capitalisation falling by Rs 12,692.1 crore to Rs 8,92,046.88 crore.

Larsen & Toubro also witnessed erosion in value, losing Rs 4,002.94 crore to settle at Rs 5,56,436.22 crore. ICICI Bank saw its valuation decline by Rs 2,571.39 crore to Rs 9,65,669.15 crore.

Life Insurance Corporation of India reported a drop of Rs 1,802.62 crore, taking its market capitalisation to Rs 5,37,403.43 crore, while Tata Consultancy Services shed Rs 1,013.07 crore to stand at Rs 11,86,660.34 crore.

In contrast, a few companies managed to close the week on a positive note. HDFC Bank added Rs 10,126.81 crore to its market value, reaching Rs 15,26,765.44 crore. Infosys gained Rs 6,626.62 crore, taking its valuation to Rs 6,87,818.84 crore, while Bharti Airtel rose by Rs 5,359.98 crore to Rs 12,00,692.32 crore.

Despite the week’s fluctuations, HDFC Bank, Bharti Airtel, TCS, ICICI Bank, State Bank of India, Infosys, Bajaj Finance, Larsen & Toubro and LIC continued to feature among the country’s top-10 most valued companies.

Meanwhile, market experts commenting on the technical outlook for the Nifty index said that as long as it sustains above the immediate support zone of 26,000–25,800, overall sentiment is likely to remain constructive with a positive bias.

On the upside, immediate resistance is seen near 26,200, followed by 26,500. On the downside, key support levels are placed at 26,000 and 25,800, with a decisive break below 25,800 potentially triggering short-term selling pressure, they added.

With inputs from IANS