Significant Market Decline: Top Indian Companies Lose Over ₹2 Lakh Crore

Market Overview

The previous week proved to be quite challenging for the stock market, with the Bombay Stock Exchange's key index, Sensex, experiencing a decline of more than 1%. Notably, major corporations in the country faced substantial losses, leading to a combined valuation drop of over ₹2 lakh crore for eight out of the top ten companies. The most affected were Tata Consultancy Services (TCS), Airtel, and Reliance Industries.

Impact on Major Companies

These three companies collectively suffered a loss of approximately ₹1.50 lakh crore, while the remaining firms saw a decrease of ₹50,000 crore. Conversely, Hindustan Unilever Limited (HUL), the largest FMCG company in India, and Bajaj Finance, a prominent NBFC, reported an increase in their stock valuations.

Valuation Declines in Detail Market Capitalization Losses

The market capitalization of eight of the top ten companies in Sensex fell by a total of ₹2.07 lakh crore (₹2,07,501.58 crore) last week.

Tata Consultancy Services (TCS) faced the largest loss, with a decline of ₹56,279.35 crore, bringing its market cap down to ₹11,81,450.30 crore. The company's quarterly results failed to excite investors, leading to a nearly 3.50% drop in its shares on Friday.

Airtel's valuation decreased by ₹54,483.62 crore, resulting in a total market cap of ₹10,95,887.62 crore.

Reliance Industries saw its market value drop by ₹44,048.2 crore, settling at ₹20,22,901.67 crore, with quarterly results expected next Friday.

Infosys, another major IT player, experienced a valuation decline of ₹18,818.86 crore, bringing its total to ₹6,62,564.94 crore.

ICICI Bank, the second-largest private lender in the country, saw its market capitalization decrease by ₹14,556.84 crore, now at ₹10,14,913.73 crore.

The valuation of the largest insurance company, LIC, fell by ₹11,954.25 crore, now totaling ₹5,83,322.91 crore.

HDFC Bank, the largest private lender, experienced a drop of ₹4,370.71 crore, with a market cap of ₹15,20,969.01 crore.

Finally, the largest government lender, SBI, saw its market value decrease by ₹2,989.75 crore, now at ₹7,21,555.53 crore.

Companies with Increased Valuation

In contrast, Hindustan Unilever Limited's valuation rose by ₹42,363.13 crore, reaching ₹5,92,120.49 crore, following a nearly 5% surge in its shares on Friday. The company also announced the appointment of Priya Nair as its first female CEO and Managing Director. Additionally, Bajaj Finance's valuation increased by ₹5,033.57 crore, bringing it to ₹5,80,010.68 crore. In the ranking of the top ten companies, Reliance Industries maintained the top position, followed by HDFC Bank, TCS, Airtel, ICICI Bank, SBI, Infosys, LIC, Bajaj Finance, and Hindustan Unilever.