Bajaj Finance loses over Rs 5,100 crore in market value this week

Last week, Bajaj Finance emerged as one of the prominent laggards as seven of India’s top-10 most valuable companies witnessed a collective erosion of Rs 35,439.36 crore in market capitalization. This downturn occurred amid subdued trading activity in a holiday-truncated week.

Bajaj Finance saw its market capitalization shrink by Rs 5,102.43 crore, dragging its total valuation down to Rs 6,22,124.01 crore, as per the latest data.

While equity markets displayed tepid momentum, the BSE benchmark index inched up marginally by 112.09 points, or 0.13%, over the same period.

State Bank of India faced the steepest decline among peers, with its market value plunging Rs 12,692.1 crore to Rs 8,92,046.88 crore. Other significant losers included Larsen & Toubro, whose valuation dipped by Rs 4,002.94 crore to Rs 5,56,436.22 crore, and ICICI Bank, which shed Rs 2,571.39 crore to settle at Rs 9,65,669.15 crore.

Life Insurance Corporation of India’s market cap also weakened by Rs 1,802.62 crore to Rs 5,37,403.43 crore, while Tata Consultancy Services receded by Rs 1,013.07 crore to Rs 11,86,660.34 crore.

Amid the broader decline, HDFC Bank bucked the trend, adding Rs 10,126.81 crore to its market value, reaching Rs 15,26,765.44 crore. Infosys also climbed by Rs 6,626.62 crore to Rs 6,87,818.84 crore, while Bharti Airtel advanced Rs 5,359.98 crore to Rs 12,00,692.32 crore.

Despite these weekly shifts, HDFC Bank, Bharti Airtel, TCS, ICICI Bank, State Bank of India, Infosys, Bajaj Finance, Larsen & Toubro, and LIC retained their positions in the elite top-10 most valued companies list.

Market analysts noted that Nifty’s trajectory remains cautiously optimistic, stating: “The index maintains a constructive bias above the immediate support zone of 26,000–25,800.” They added that resistance levels hover near 26,200 and 26,500, while a decisive break below 25,800 could trigger short-term downward pressure.

Inputs from IANS