ICICI Bank and Bharti Airtel also recorded sharp declines. ICICI Bank’s market capitalisation slipped by ₹18,516 crore to ₹9.77 lakh crore, while Airtel shed ₹13,885 crore, taking its valuation to ₹11.88 lakh crore. The erosion in heavyweight stocks outweighed gains seen elsewhere, leading to a net contraction in overall market wealth among the top firms.
In contrast, Reliance Industries bucked the broader trend, adding ₹20,434 crore to its market value to reach ₹21.06 lakh crore, retaining its position as India’s most-valued company. Engineering and construction major Larsen & Toubro (L&T) also ended the week in the green, with its valuation rising by ₹4,911 crore to ₹5.60 lakh crore.
The mixed performance came during a volatile trading week for domestic equities. Although the Sensex closed 449 points higher at 85,268 on Friday, December 12, it still declined by 444 points over the week. The Nifty settled at 26,046, gaining 148 points on the final session but failing to offset losses recorded earlier.
Sectorally, metals led the recovery on the National Stock Exchange, rising 2.63% on Friday, while auto, financial services, realty and banking stocks also saw buying interest. Among Sensex constituents, 23 stocks advanced and seven declined, with Tata Steel, Zomato and UltraTech Cement gaining up to 3%. ITC, Sun Pharma and Hindustan Unilever fell by up to 2%.
Market analysts said fluctuations in market capitalisation were driven largely by stock price movements, reflecting earnings expectations, sectoral cues and broader market sentiment. For investors, the week underscored how quickly shifts in sentiment can alter valuations, even among the country’s largest and most established companies.
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