According to Business Today, the combined market capitalisation of five of India's top-10 most valued firms eroded by Rs 1 lakh crore last week, with IT bellwether Tata Consultancy Services (TCS) taking the biggest hit amid a bearish trend in domestic equities. The five decliners were Reliance Industries, HDFC Bank, ICICI Bank, State Bank of India (SBI) and TCS; the five gainers were Bharti Airtel, Bajaj Finance, Larsen & Toubro, Life Insurance Corporation of India (LIC) and Hindustan Unilever, which together added Rs 55,149 crore in market cap.
Weekly Market Slide
Business Today reported that the BSE Sensex declined 490 points, or 0.6%, last week and the NSE Nifty dipped 205 points, or 0.8%.
"Markets ended the week lower as elevated crude oil prices, renewed geopolitical uncertainty and mixed global cues weighed on investor sentiment," Ajit Mishra of Religare Broking said.
The broad market weakness came as five of the top-10 names still delivered valuation gains, underscoring a sharp divergence within the large-cap segment.
Five Decliners: TCS Leads the Fall
Among the decliners, TCS absorbed the steepest loss — Rs 34,263.3 crore — bringing its market cap to about Rs 8.5 lakh crore, according to Business Today. Reliance Industries declined by Rs 31,869 crore to Rs 17.7 lakh crore, and SBI dropped by Rs 25,892 crore to Rs 9.9 lakh crore. HDFC Bank edged lower by Rs 7,165 crore to Rs 11.2 lakh crore, and ICICI Bank's valuation diminished by Rs 2,793 crore to Rs 10.2 lakh crore.
| Company | Market-cap change (Rs crore) | New market cap (Rs lakh crore) |
|---|---|---|
| TCS | -34,263.3 | ~8.5 |
| Reliance Industries | -31,869 | 17.7 |
| SBI | -25,892 | 9.9 |
| HDFC Bank | -7,165 | 11.2 |
| ICICI Bank | -2,793 | 10.2 |
Five Gainers Add Rs 55,149 Crore
On the gainers' side, LIC jumped Rs 26,439 crore to Rs 5.2 lakh crore, and Bharti Airtel surged Rs 20,592 crore to Rs 12.4 lakh crore, Business Today reported. Bajaj Finance climbed Rs 3,548.8 crore to Rs 6.8 lakh crore, Larsen & Toubro added Rs 2,491 crore to take its valuation to Rs 5.6 lakh crore, and Hindustan Unilever gained Rs 2,079 crore to Rs 4.9 lakh crore.
| Company | Market-cap change (Rs crore) | New market cap (Rs lakh crore) |
|---|---|---|
| LIC | +26,439 | 5.2 |
| Bharti Airtel | +20,592 | 12.4 |
| Bajaj Finance | +3,548.8 | 6.8 |
| Larsen & Toubro | +2,491 | 5.6 |
| Hindustan Unilever | +2,079 | 4.9 |
Ranking Within India's Top-10 Pack
Despite last week's losses, Reliance Industries remained the most valued domestic firm, followed by Bharti Airtel, HDFC Bank, ICICI Bank and SBI, according to Business Today. The winners' list spans financial services (LIC, Bajaj Finance), telecom (Bharti Airtel), infrastructure (Larsen & Toubro) and consumer goods (Hindustan Unilever). The losers' list includes three financials — HDFC Bank, ICICI Bank, SBI — alongside IT major TCS and energy-to-retail conglomerate Reliance Industries.
Weekly Net Effect on Top-10 Valuations
The weekly data reported by Business Today shows the five losers shed Rs 1 lakh crore in combined market cap, while the five gainers added Rs 55,149 crore together. The market moves were accompanied by a 0.6% fall in the Sensex and a 0.8% drop in the Nifty, with elevated crude oil prices, renewed geopolitical uncertainty and mixed global cues cited by Religare Broking's Ajit Mishra as the factors weighing on investor sentiment. The weekly split provides investors and equity analysts with a clear read on how individual large-cap names diverged even as benchmark indices ended lower.
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