Top 7 Firms Lose ₹3.6 Trillion as Markets Slide
Overview
Indian equity markets succumbed to a bearish trend last week, wiping out ₹3.63 trillion in market capitalization from seven of the top-10 most valued companies. Reliance Industries bore the brunt, with its valuation dropping by ₹1.58 trillion. The decline was attributed to renewed US tariff threats and rising geopolitical tensions, while ICICI Bank, State Bank of India, and Hindustan Unilever bucked the trend with valuation gains.
Market Cap Meltdown
The combined market valuation of seven of India's top-10 most valued firms eroded by a staggering ₹3.63 trillion last week. This significant wealth destruction occurred amidst a broad bearish trend across equities. Reliance Industries bore the brunt of the sell-off, emerging as the biggest laggard with its market capitalization plunging by ₹1.58 trillion to ₹19.96 trillion.
Key Companies Hit
HDFC Bank's valuation dropped by ₹96,153.61 crore, reaching ₹14.44 trillion. Bharti Airtel saw its market cap decline by ₹45,274.72 crore, settling at ₹11.55 trillion. Bajaj Finance and Larsen & Toubro also experienced notable erosions, losing ₹18,729.68 crore and ₹18,728.53 crore respectively. Tata Consultancy Services (TCS) and Infosys also contributed to the overall decline, with valuations falling by ₹15,232.14 crore and ₹10,760.59 crore, respectively.
Market Movers
Indian equity markets concluded the past week on a negative note. Analysts pointed to heightened risk aversion triggered by renewed US tariff threats and escalating geopolitical tensions as primary drivers of the bearish sentiment. This market sentiment resulted in a 2.54 percent decline in the BSE benchmark index over the week.
Contrasting Fortunes
Despite the widespread erosion, a few counters managed to buck the trend. The market valuation of ICICI Bank jumped by ₹34,901.81 crore, reaching ₹10.03 trillion. Hindustan Unilever also saw its market capitalization climb by ₹6,097.19 crore, while State Bank of India edged higher by ₹599.99 crore to ₹9.23 trillion. These gainers represent sectors that may be perceived as more defensive or resilient during periods of market uncertainty.
