Market Valuation of Top Firms Takes a Hit: SBI Leads the Decline

Last week, the market valuation of four of India's top ten firms dropped significantly, with State Bank of India experiencing the largest loss. Despite a slight increase in the BSE Sensex and NSE Nifty, investor sentiment remained cautious due to renewed tensions in the Middle East. While SBI, Bharti Airtel, TCS, and Larsen & Toubro faced declines, companies like Reliance Industries and HDFC Bank saw gains. This article delves into the fluctuations in market capitalization and the factors influencing these changes.

By Narendra Chaudhary May 10, 2026, 16:21 IST

Market Valuation Decline in Major Firms

New Delhi: The total market capitalization of four of the ten most valuable companies in India saw a significant drop of Rs 1 lakh crore last week, with State Bank of India (SBI) experiencing the largest decline amidst a fluctuating equity market.

During the past week, the BSE Sensex increased by 414.69 points, or 0.53%, while the NSE Nifty rose by 178.6 points, or 0.74%.

Ponmudi R, CEO of Enrich Money, an online trading and wealth management firm, commented, "The Indian stock market faced a week of volatility and limited movement, with investor sentiment remaining cautious despite some recovery efforts. Initial optimism fueled by hopes for reduced tensions in the Middle East and lower oil prices quickly diminished as new conflicts between the US and Iran emerged."

Among the companies that saw a decrease in their market value were Bharti Airtel, SBI, Tata Consultancy Services (TCS), and Larsen & Toubro. In contrast, Reliance Industries, HDFC Bank, ICICI Bank, Bajaj Finance, Hindustan Unilever, and Life Insurance Corporation of India (LIC) experienced gains, collectively adding Rs 46,685.21 crore to their market valuations.

SBI's market capitalization fell by Rs 44,722.34 crore, bringing its total to Rs 9,41,107.62 crore.

Bharti Airtel's valuation dropped by Rs 31,167.1 crore, now standing at Rs 11,18,055.03 crore.

TCS's market cap decreased by Rs 28,456.26 crore to Rs 8,66,477.69 crore, while Larsen & Toubro's valuation fell by Rs 5,371.84 crore to Rs 5,46,621.21 crore.

On the other hand, HDFC Bank's market valuation rose by Rs 15,425.09 crore to reach Rs 12,02,699.26 crore.

Bajaj Finance saw an increase of Rs 11,486.89 crore, bringing its market cap to Rs 5,94,610.02 crore.

Hindustan Unilever's valuation grew by Rs 8,763.97 crore, totaling Rs 5,37,562.98 crore.

Reliance Industries' market cap increased by Rs 6,563.28 crore, reaching Rs 19,42,866.58 crore, while LIC's valuation rose by Rs 2,751.37 crore to Rs 5,07,549.44 crore.

ICICI Bank's market valuation also saw a slight increase of Rs 1,694.61 crore, bringing it to Rs 9,06,675.39 crore.

Reliance Industries continues to hold the title of the most valuable company, followed by HDFC Bank, Bharti Airtel, SBI, ICICI Bank, TCS, Bajaj Finance, Larsen & Toubro, Hindustan Unilever, and LIC.