Brief by Shorts91 Newsdesk / 12:34pm on 13 Jan 2025,Monday Business
India's largest government bank, the State Bank of India (SBI), saw its market capitalisation plummet by ₹44,935.46 crore to ₹6,63,233.14 crore over five days due to a weak domestic equity trend. The benchmark BSE index dropped 1,844.2 points (2.32%), and the Nifty declined 573.25 points (2.38%) last week. Private sector giant HDFC Bank experienced an even larger slump, losing ₹70,479.23 crore in market value. Other major players, including Reliance Industries, ICICI Bank, and ITC, also faced significant losses, contributing to a total valuation drop of ₹1,85,952.31 crore across five of the top ten firms. Conversely, companies like TCS, Infosys, and Bharti Airtel gained value. Despite the decline, Reliance Industries remains the most valued domestic firm.
