A rough week on Dalal Street wiped out Rs 2.74 lakh crore from the combined market value of nine of India's 10 most-valued companies, as weak investor sentiment weighed on equities, according to Business Today. HDFC Bank took the biggest hit, while Hindustan Unilever stood out as the only company in the top-10 pack to end the week with gains.
Market Performance and Key Triggers
The losses came as the broader market remained under pressure. During the week, the BSE Sensex dropped 2,091.68 points, or 2.67%, while the NSE Nifty fell 566.85 points, or 2.32%, according to Business Today.
"Markets witnessed a weak and volatile week, with benchmark indices extending their losing streak as a sharp surge in crude oil prices and renewed geopolitical tensions weighed heavily on investor sentiment," said Ajit Mishra, SVP, Research, Religare Broking Ltd. He added that banking stocks were the biggest losers after mixed Q1 FY27 earnings, while a risk-off mood and a weaker rupee also kept investors cautious.
Company-wise Valuation Changes
Among the top-10 firms, HDFC Bank recorded the sharpest fall in market value, with its market capitalisation slumping by Rs 1,18,383.91 crore to Rs 11,43,985.90 crore. The bank's shares declined 9.40% during the week amid concerns over margins.
Reliance Industries lost Rs 65,429.82 crore in market value, taking its valuation to Rs 17,29,661.44 crore. State Bank of India's market value fell by Rs 26,814.94 crore to Rs 9,36,953.84 crore, while Bajaj Finance lost Rs 26,802.74 crore to Rs 6,30,471.54 crore.
LIC's market capitalisation declined by Rs 15,116.74 crore to Rs 5,33,007.56 crore. ICICI Bank lost Rs 6,223.84 crore, taking its valuation to Rs 10,28,217.93 crore. Bharti Airtel's valuation fell by Rs 6,021.64 crore to Rs 11,85,046.13 crore. TCS lost Rs 5,191.95 crore to Rs 8,15,480.75 crore, while Larsen & Toubro's market value slipped by Rs 4,092.79 crore to Rs 5,20,747.89 crore.
Hindustan Unilever bucked the trend, with its market capitalisation rising by Rs 152.73 crore to Rs 5,03,928.59 crore.
The following table summarises the valuation changes for the nine decliners and one gainer:
| Company | Change in Market Cap (Rs crore) | New Market Cap (Rs crore) |
|---|---|---|
| HDFC Bank | -1,18,383.91 | 11,43,985.90 |
| Reliance Industries | -65,429.82 | 17,29,661.44 |
| State Bank of India | -26,814.94 | 9,36,953.84 |
| Bajaj Finance | -26,802.74 | 6,30,471.54 |
| LIC | -15,116.74 | 5,33,007.56 |
| ICICI Bank | -6,223.84 | 10,28,217.93 |
| Bharti Airtel | -6,021.64 | 11,85,046.13 |
| TCS | -5,191.95 | 8,15,480.75 |
| Larsen & Toubro | -4,092.79 | 5,20,747.89 |
| Hindustan Unilever | +152.73 | 5,03,928.59 |
After the week's changes, Reliance Industries remained India's most-valued company. It was followed by Bharti Airtel, HDFC Bank, ICICI Bank, State Bank of India, TCS, Bajaj Finance, LIC, Larsen & Toubro and Hindustan Unilever, according to Business Today.
Broader Market Context
The sharp surge in crude oil prices and renewed geopolitical tensions were cited by analysts as key factors behind the market weakness. Banking stocks were the biggest losers after mixed Q1 FY27 earnings, while a risk-off mood and a weaker rupee also kept investors cautious, according to Ajit Mishra of Religare Broking. The combined loss of Rs 2.74 lakh crore from nine of the top-10 firms underscores the broad-based selling pressure during the week.
Sources:
