The Indian stock market witnessed a severe downturn last week, leading to a staggering erosion of wealth for the nation's corporate giants. The combined market capitalisation of seven out of the top ten most valued companies plummeted by a colossal Rs 3,63,412.18 crore, driven by a broad-based sell-off in equities.
Benchmark Indices Reflect Widespread Sell-Off
The negative sentiment was clearly mirrored in the benchmark indices. The BSE Sensex plunged by 2,185.77 points, or 2.54 per cent, over the course of the week. Market experts attributed this sharp correction to a climate of heightened risk aversion among investors.
"Indian equity markets ended last week on a negative note, reflecting heightened risk aversion triggered by renewed US tariff threats and rising geopolitical tensions," explained Ponmudi R, CEO of Enrich Money, an online trading and wealth tech firm.
Heavyweights Bear the Brunt of Market Rout
Among the elite top-10 club, the pain was widespread but not uniform. The companies that suffered significant erosion in their market valuations were Reliance Industries, HDFC Bank, Tata Consultancy Services (TCS), Bharti Airtel, Infosys, Bajaj Finance, and Larsen & Toubro.
In stark contrast, three companies managed to defy the negative trend and post gains. ICICI Bank, State Bank of India (SBI), and Hindustan Unilever (HUL) saw their market capitalisation increase during the turbulent week.
Biggest Losers and Notable Gainers
Reliance Industries emerged as the biggest laggard in absolute terms. The oil-to-telecom conglomerate saw its mcap tumble by a massive Rs 1,58,532.91 crore, settling at Rs 19,96,445.69 crore.
Other major losers included:
- HDFC Bank: Valuation declined by Rs 96,153.61 crore to Rs 14,44,150.26 crore.
- Bharti Airtel: Market cap fell by Rs 45,274.72 crore to Rs 11,55,987.81 crore.
- Bajaj Finance: Lost Rs 18,729.68 crore, closing at Rs 5,97,700.75 crore.
- Larsen & Toubro: Mcap dropped by Rs 18,728.53 crore to Rs 5,53,912.03 crore.
- TCS: Saw a decline of Rs 15,232.14 crore, taking its valuation to Rs 11,60,682.48 crore.
- Infosys: Market capitalisation edged lower by Rs 10,760.59 crore to Rs 6,70,875 crore.
On the gaining side, ICICI Bank's valuation jumped impressively by Rs 34,901.81 crore to Rs 10,03,674.95 crore. Hindustan Unilever added Rs 6,097.19 crore to reach Rs 5,57,734.23 crore, while State Bank of India's mcap saw a modest rise of Rs 599.99 crore to Rs 9,23,061.76 crore.
Ranking Holds Despite Weekly Turmoil
Despite the significant weekly losses, the hierarchy among India's most valued companies remained unchanged. Reliance Industries retained its position as the country's most valued firm, followed by HDFC Bank, TCS, Bharti Airtel, ICICI Bank, State Bank of India, Infosys, Bajaj Finance, Hindustan Unilever, and Larsen & Toubro.
The week's massive wealth erosion underscores the fragile sentiment in the market, as global headwinds from trade tensions and geopolitics continue to influence investor decisions in Indian equities.
