Top-10 Firms Lose ₹2.9 Lakh Crore in Mcap; TCS, RIL Worst Hit

In a holiday-shortened week marked by a significant downturn in the domestic equity markets, nine of the ten most valued Indian companies collectively lost a staggering ₹2,94,170.16 crore in market capitalisation. Tata Consultancy Services (TCS) recorded the steepest fall, reflecting the broader negative sentiment that gripped Dalal Street.

Indian Indices in Red 

The benchmark indices registered sharp losses during the week. The BSE Sensex plummeted by 2,050.23 points or 2.64%, while the NSE Nifty tumbled by 614.8 points, translating to a 2.61% decline.

This overall market weakness impacted the valuations of most major firms, with only one company in the top-10 managing to buck the trend.

TCS, Reliance Among Top Losers

Tata Consultancy Services (TCS) emerged as the biggest loser in terms of market value erosion, witnessing a sharp fall of ₹1,10,351.67 crore. The company’s market capitalisation dropped to ₹11,93,769.89 crore.

Reliance Industries followed with a decline of ₹95,132.58 crore in its m-cap, bringing its valuation down to ₹16,30,244.96 crore. Infosys also faced a major setback, losing ₹49,050.04 crore to settle at ₹6,03,178.45 crore.

Other major companies also faced notable declines in their market capitalisations. Bajaj Finance lost ₹14,127.07 crore, bringing its valuation down to ₹5,40,588.05 crore.

ICICI Bank saw its market cap shrink by ₹9,503.66 crore to ₹9,43,264.95 crore, while HDFC Bank registered a dip of ₹8,800.05 crore, with its valuation settling at ₹13,90,408.68 crore.

Hindustan Unilever Ltd (HUL) experienced a decline of ₹3,500.89 crore, reducing its market value to ₹5,27,354.01 crore.

Meanwhile, the State Bank of India (SBI) and ITC also recorded losses of ₹3,391.35 crore and ₹312.85 crore, taking their respective market capitalisations to ₹6,84,940.55 crore and ₹5,19,155.89 crore.

Bharti Airtel Defies the Trend

Bharti Airtel was the sole company among the top 10 most-valued firms to post a gain during the week. The telecom major added ₹7,013.59 crore to its market capitalisation, which rose to ₹9,94,019.51 crore.

Reliance Maintains Top Spot Despite Weekly Rout

Despite the heavy losses across the board, Reliance Industries retained its position as the most valuable Indian company. It was followed by HDFC Bank, TCS, Bharti Airtel, ICICI Bank, SBI, Infosys, Bajaj Finance, HUL, and ITC in the rankings of the top 10 most valued firms by market capitalisation.

Conclusion 

The sharp erosion in market capitalisation among India’s top companies highlights the volatility and investor caution currently gripping the domestic equity markets. With benchmark indices posting steep declines, even industry giants like TCS and Reliance Industries were not spared.

Bharti Airtel’s solitary gain offered a rare bright spot. As market sentiment remains fragile, investors will be closely watching upcoming economic cues and corporate earnings for signs of stability and recovery.

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