SBI, HDFC Bank, and Other Top Firms Face Major Valuation Losses Last Week

Last week, SBI’s market valuation fell by ₹44,935 crore and HDFC Bank’s by ₹70,479 crore, reflecting a weak market trend. Reliance, ICICI, and others also saw significant losses, while a few companies gained.

Factors Behind the Broader Market Slump

The Indian benchmark indices, NSE Nifty 50 and BSE Sensex experienced significant volatility in the week ending January 10, 2025. The week began with intense selling on January 6, 2024, with Nifty 50 and Sensex falling by 1.62% and 1.59%, respectively.

This decline was mainly triggered by rising HMPV cases, foreign portfolio investor (FPI) selling, and speculation around Donald Trump’s potential return to the White House. While the market saw a recovery on January 7, the downward trend resumed in the following days, with Nifty 50 hitting its lowest point of the week at 23,346.15 on January 10.

How Major Banks Fared Last Week

India’s largest government lender, State Bank of India (SBI), saw its market capitalisation decline by ₹44,935.46 crore, bringing its total value to ₹6,63,233.14 crore.

HDFC Bank also experienced a significant loss, with its market value shrinking by ₹70,479.23 crore to ₹12,67,440.61 crore.

This slump mirrors the broader downturn in the domestic equity market, where the BSE benchmark dropped 1,844.2 points (2.32%) and Nifty fell 573.25 points (2.38%).

Gainers and Losers in Valuation

Other companies like Reliance Industries, ICICI Bank, and ITC also faced valuation losses, while firms such as TCS, Bharti Airtel, Infosys, Hindustan Unilever, and HCL Technologies managed to gain during the week.

Banks’ Share Price Performance Today

As of January 14, 2025, major banks are showing positive movements in their stock prices. State Bank of India is trading at ₹748.10, up by ₹18.60 or 2.55%. HDFC Bank has seen a moderate gain, rising ₹14.70 to ₹1,645.55, reflecting a 0.90% increase.

Meanwhile, ICICI Bank has also shown an upward trend, gaining ₹9.15 to ₹1,238.90, marking a 0.74% rise.

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