The stock market concluded the week on a downturn, with top firms witnessing a significant drop in their valuations. Over seven key companies, a total of ₹2 lakh crore has been wiped out. Tata Consultancy Services (TCS) led this decline, reflecting broader market pressures.
Market Performance Overview
Dalal Street’s benchmark indices suffered notable losses. The BSE Sensex declined by 1,829.33 points, a drop of 2.33%. Meanwhile, the NSE Nifty fell by 455.6 points, or 1.87%. This marked the end of a two-week streak of gains.
Reasons for Decline
According to Ajit Mishra from Religare Broking Ltd, heightened geopolitical tensions and disappointing earnings reports from IT companies have weighed on investor sentiment. Global uncertainties, particularly related to the crisis in West Asia, have contributed to this volatility. Elevated crude oil prices have also affected market confidence.
Impact on Major Firms
The combined market capitalisation of the seven affected firms plummeted by ₹2,05,343.06 crore. The following companies reported the most significant losses:
- Tata Consultancy Services: -₹66,699.44 crore (Valuation: ₹8,67,364.12 crore)
- Reliance Industries: -₹50,670.34 crore (Valuation: ₹17,96,647.50 crore)
- HDFC Bank: -₹23,090.05 crore (Valuation: ₹12,08,225.48 crore)
- Life Insurance Corporation of India: -₹19,670.75 crore (Valuation: ₹5,13,020.56 crore)
- Bharti Airtel: -₹19,406.59 crore (Valuation: ₹11,05,718.62 crore)
- ICICI Bank: -₹14,663.27 crore (Valuation: ₹9,50,345.40 crore)
- Larsen & Toubro: -₹11,142.62 crore (Valuation: ₹5,52,171.88 crore)
Companies with Gains
Despite the downturn, several firms managed to increase their market capitalisation:
- Hindustan Unilever: +₹20,652.91 crore (Valuation: ₹5,47,219.80 crore)
- State Bank of India: +₹19,522.76 crore (Valuation: ₹10,16,752.53 crore)
- Bajaj Finance: +₹8,253.64 crore (Valuation: ₹5,73,690.81 crore)
Market Leaders
Despite the overall declines, Reliance Industries remains the most valued firm in India, followed closely by:
- HDFC Bank
- Bharti Airtel
- State Bank of India
- ICICI Bank
- Tata Consultancy Services
- Bajaj Finance
- Larsen & Toubro
- Hindustan Unilever
- Life Insurance Corporation of India
This week’s market update indicates ongoing challenges for investors as external pressures shape market dynamics.
