The market capitalization of eight out of the top 10 most valuable companies has decreased by Rs 3 lakh crore, with TCS being the most affected.

Last week, the stock market in India experienced a significant decline, causing the combined market value of eight of the top-10 most valued firms to drop by a staggering Rs 3,09,244.57 crore. This was due to a bearish trend in the equities market, with Tata Consultancy Services (TCS) being hit the hardest. The BSE benchmark gauge, Sensex, plummeted 2,112.96 points, while the NSE Nifty fell by 671.2 points. This downward trend continued in February, with the Nifty dropping 1,383.7 points and the Sensex losing 4,302.47 points.

The biggest blow was dealt to TCS, whose market valuation decreased by Rs 1,09,211.97 crore to Rs 12,60,505.51 crore, causing them to drop to the third rank in the top-10 most valued firms chart. This allowed HDFC Bank to overtake them and claim the second spot. Infosys also suffered a significant decline, with its market valuation dropping by Rs 52,697.93 crore to Rs 7,01,002.22 crore. Other top firms like Bharti Airtel, Reliance Industries, State Bank of India, ICICI Bank, Hindustan Unilever, and ITC also faced a decline in their market capitalisation.

On the other hand, HDFC Bank saw a surge in its market value, jumping by Rs 30,258.49 crore to Rs 13,24,411.31 crore. Bajaj Finance also experienced a positive growth, adding Rs 9,050.24 crore to its market valuation, which now stands at Rs 5,29,516.99 crore. Despite these changes, Reliance Industries maintained its position as the most valued firm, followed by HDFC Bank, TCS, Bharti Airtel, ICICI Bank, Infosys, State Bank of India, Bajaj Finance, Hindustan Unilever, and ITC.

It is evident that the past week has been challenging for the Indian stock market, with a significant decline in the market capitalisation of top firms. However, some companies like HDFC Bank and Bajaj Finance have managed to stay afloat, showcasing their resilience in the face of adversity. It will be interesting to see how the market performs in the coming weeks and if there will be any changes in the ranking of the top-10 most valued firms.

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