Market Meltdown: Top Firms Lose Over ₹2.74 Lakh Crore Amid Bearish Trends
Significant Losses in Market Valuation
New Delhi: The total market capitalization of nine out of the ten most valuable companies saw a decline of ₹2.74 lakh crore last week, reflecting a bearish trend in the stock market, with HDFC Bank experiencing the most significant loss.
During the previous week, the BSE Sensex plummeted by 2,091.68 points, equivalent to a 2.67% drop, while the NSE Nifty fell by 566.85 points, or 2.32%.
Ajit Mishra, Senior Vice President of Research at Religare Broking Ltd, commented, "The markets faced a challenging and volatile week, with the benchmark indices continuing their downward trend due to a sharp rise in crude oil prices and renewed geopolitical tensions impacting investor confidence."
Banking stocks were particularly affected, following mixed earnings reports for Q1 FY27, while a risk-averse atmosphere and a weakening rupee further dampened buying enthusiasm.
Among the top ten firms, Hindustan Unilever was the sole company to record a gain.
The companies that saw a decline in their valuations included Reliance Industries, Bharti Airtel, HDFC Bank, ICICI Bank, State Bank of India, Tata Consultancy Services (TCS), Bajaj Finance, Life Insurance Corporation of India (LIC), and Larsen & Toubro.
HDFC Bank's market valuation dropped by ₹1,18,383.91 crore, bringing it down to ₹11,43,985.90 crore, with its shares falling by 9.40% due to margin concerns.
Reliance Industries lost ₹65,429.82 crore in valuation, now standing at ₹17,29,661.44 crore.
State Bank of India's valuation decreased by ₹26,814.94 crore to ₹9,36,953.84 crore, while Bajaj Finance's valuation fell by ₹26,802.74 crore to ₹6,30,471.54 crore.
LIC's market capitalization diminished by ₹15,116.74 crore to ₹5,33,007.56 crore, and ICICI Bank's valuation decreased by ₹6,223.84 crore to ₹10,28,217.93 crore.
Bharti Airtel's valuation slipped by ₹6,021.64 crore to ₹11,85,046.13 crore, and TCS saw a reduction of ₹5,191.95 crore to ₹8,15,480.75 crore.
Larsen & Toubro's market cap faced a decline of ₹4,092.79 crore, now at ₹5,20,747.89 crore.
In contrast, Hindustan Unilever's market capitalization increased by ₹152.73 crore, reaching ₹5,03,928.59 crore.
Reliance Industries continues to hold the title of the most valuable company, followed by Bharti Airtel, HDFC Bank, ICICI Bank, State Bank of India, TCS, Bajaj Finance, LIC, Larsen & Toubro, and Hindustan Unilever.