The combined market capitalisation of nine of India’s 10 most valued companies fell by Rs 2.74 lakh crore during the week ended July 24, as a broad market sell-off weighed on large-cap stocks. HDFC Bank accounted for more than 40 per cent of the total erosion.
The nine companies collectively lost Rs 2,74,078.37 crore in market value. Hindustan Unilever was the only company among the top 10 to register a gain during the week.
Last week, the BSE benchmark Sensex tanked 2,091.68 points, or 2.67 per cent, and the NSE Nifty declined 566.85 points, or 2.32 per cent. The Nifty closed at 23,767.45 at the end of July 24.
RIL and HDFC lead the fall
HDFC Bank suffered the steepest decline, with its market capitalisation falling by Rs 1,18,383.91 crore to Rs 11,43,985.90 crore.
Shares of the private-sector lender declined 9.4 per cent during the week amid investor concerns over its margins following the release of its June-quarter earnings.
Reliance Industries recorded the second-biggest fall. Its market valuation declined by Rs 65,429.82 crore to Rs 17,29,661.44 crore.
Together, HDFC Bank and Reliance Industries accounted for nearly two-thirds of the total market-capitalisation loss recorded by the nine companies.
SBI, Bajaj Finance shed over Rs 26,000 crore each
State Bank of India’s market capitalisation fell by Rs 26,814.94 crore to Rs 9,36,953.84 crore.
Bajaj Finance followed closely, losing Rs 26,802.74 crore in market value to end the week with a valuation of Rs 6,30,471.54 crore.
Life Insurance Corporation of India’s valuation declined by Rs 15,116.74 crore to Rs 5,33,007.56 crore, while ICICI Bank lost Rs 6,223.84 crore, taking its market capitalisation to Rs 10,28,217.93 crore.
Bharti Airtel’s valuation decreased by Rs 6,021.64 crore to Rs 11,85,046.13 crore. Tata Consultancy Services lost Rs 5,191.95 crore to settle at Rs 8,15,480.75 crore.
Engineering and construction major Larsen & Toubro saw its market capitalisation decline by Rs 4,092.79 crore to Rs 5,20,747.89 crore.
Hindustan Unilever bucks the trend
Hindustan Unilever was the sole gainer among the country’s 10 most valued companies. Its market capitalisation rose marginally by Rs 152.73 crore to Rs 5,03,928.59 crore.
“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,” Ajit Mishra, senior vice-president of research at Religare Broking told PTI.
Banking stocks emerged as the biggest drag following mixed financial results for the first quarter of FY27, while weakness in the rupee and a broader risk-off environment further restricted buying interest, he added.
Reliance remains India’s most valued company
Despite the erosion in its market capitalisation, Reliance Industries retained its position as India’s most valued listed company.
It was followed by Bharti Airtel, HDFC Bank, ICICI Bank, State Bank of India, TCS, Bajaj Finance, LIC, Larsen & Toubro and Hindustan Unilever.
