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HDFC Bank Loses Rs 56,000 Crore in Market Cap as Top Firms Bleed Value

HDFC Bank was the biggest loser among India's most-valued companies last week, with its market capitalisation plunging by over Rs 56,000 crore. The decline led a combined loss of over Rs 1 lakh crore for five of the top-10 firms, including Hindustan Unilever and Bajaj Finance. In contrast, Bharti Airtel and State Bank of India posted significant gains, adding over Rs 24,000 crore and Rs 10,000 crore respectively. The broader market ended the week largely flat with a negative bias, as noted by market analysts.

Key Points: HDFC Bank Leads Rs 1 Lakh Crore Market Cap Loss for Top Firms

  • HDFC Bank valuation fell Rs 56,124 crore
  • Top-5 firms lost over Rs 1 lakh crore combined
  • Bharti Airtel and SBI were key gainers
  • Broader Sensex and Nifty ended flat with negative bias
2 min read

HDFC Bank takes biggest hit as market valuation plunges over Rs 56,000 crore in last week

HDFC Bank's valuation plunged over Rs 56,000 crore last week, leading a Rs 1 lakh crore loss for top-10 firms. Bharti Airtel, SBI gained.

"The market ended on a largely flat note with a negative undertone. - Ajit Mishra"

Mumbai, March 22

HDFC Bank emerged as the biggest loser among India's most-valued companies last week, with its market valuation plunging by over Rs 56,000 crore, even as the broader stock market remained largely flat with a negative bias.

India's equity markets witnessed a cautious week, with five of the top-10 most-valued companies together losing over Rs 1 lakh crore in market capitalisation.

The decline was led by HDFC Bank, whose valuation dropped sharply by Rs 56,124.48 crore to Rs 12,01,267.28 crore.

The broader market reflected muted sentiment. The BSE Sensex slipped marginally by 30.96 points, or 0.04 per cent, while the NSE Nifty declined 36.6 points, or 0.15 per cent during the week.

Ajit Mishra, SVP (Research) at Religare Broking Ltd, said the market ended on a largely flat note with a negative undertone.

He noted that while the first three trading sessions remained positive, a sharp fall on Thursday wiped out the gains, followed by a volatile final session.

Apart from HDFC Bank, other major laggards included Hindustan Unilever, Bajaj Finance, Tata Consultancy Services (TCS), and ICICI Bank.

Hindustan Unilever's market valuation fell by Rs 18,009.62 crore to Rs 4,89,631.32 crore, while Bajaj Finance lost Rs 15,338.42 crore to Rs 5,16,715.12 crore.

TCS saw its valuation decline by Rs 7,127.63 crore to Rs 8,64,940 crore, and ICICI Bank's mcap dipped by Rs 6,171.72 crore to Rs 8,91,673.06 crore.

Overall, the combined erosion in market value of these five companies stood at Rs 1,02,771.87 crore.

On the other hand, some heavyweight firms managed to post gains despite the weak trend. Bharti Airtel saw a strong rise of Rs 24,462.03 crore, pushing its market capitalisation to Rs 10,52,893.75 crore.

State Bank of India added Rs 10,707.52 crore to reach Rs 9,76,968.57 crore in valuation. Infosys and Life Insurance Corporation of India (LIC) also posted modest gains, with their market capitalisations rising to Rs 5,08,789.37 crore and Rs 4,91,610.45 crore, respectively.

- IANS

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Reader Comments

S
Sarah B
Interesting to see the divergence. While banks and FMCG are down, Bharti Airtel and SBI gained significantly. Maybe the market is rotating money into different sectors. Shows you shouldn't put all your eggs in one basket, even if it's a blue-chip.
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Arjun K
The broader market was almost flat, but the top companies lost a lakh crore? That's a huge wealth destruction for retail investors. Hope this is just a correction and not the start of a bigger downtrend. Time to hold tight and not panic sell.
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Priya S
LIC posting gains is a good sign. It shows the strength of our public sector giants. Maybe investors are looking for safer bets. As for HDFC, such a sharp fall makes you question if there are underlying issues not being communicated.
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Karthik V
Volatility is part of the game, yaar. One week's data doesn't define a company. HDFC Bank has strong fundamentals. This could be a buying opportunity for long-term investors. Remember, the market is a voting machine in the short term but a weighing machine in the long term.
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Michael C
Respectfully, the article highlights a concern. When a bellwether like HDFC Bank leads such a significant loss, it's a signal for the entire banking sector and the economy. The "flat with negative bias" description from the analyst is key. Caution is warranted.

We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.

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