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Top 7 Indian Firms Lose Over Rs 2 Lakh Crore in Market Cap Amid Market Slump

Seven of India's top-10 most valued companies saw their combined market valuation drop by over Rs 2 lakh crore last week. The downturn was driven by a bearish trend on Dalal Street, with the Sensex falling 2.33% and the Nifty declining 1.87%. Rising geopolitical tensions and weak earnings commentary from IT majors weighed on market sentiment. Despite the losses, Reliance Industries retained its position as India's most valued company.

Key Points: Top 7 Firms Lose Rs 2 Lakh Crore in Market Cap

  • Seven top firms lost over Rs 2 lakh crore in market cap
  • TCS and Reliance Industries were the biggest laggards
  • Sensex plunged 1,829 points, Nifty fell 456 points
  • Hindustan Unilever and SBI bucked the trend with gains
2 min read

Top 7 firms lose over Rs 2 lakh crore in market cap

Seven top Indian firms lost over Rs 2 lakh crore in market cap as Sensex and Nifty fell amid geopolitical tensions and weak IT earnings.

"Global developments continued to dictate market direction, particularly the uncertainty surrounding the West Asia crisis. - Market Expert"

Mumbai, April 26

The combined market valuation of seven of India's top-10 most valued companies eroded by over Rs 2 lakh crore last week, with Reliance Industries and Tata Consultancy Services emerging as the biggest laggards.

The downturn came in line with a bearish trend on Dalal Street, where the Sensex plunged 1,829.33 points, or 2.33 per cent, while the Nifty declined 455.6 points, or 1.87 per cent during the week.

Market sentiment remained under pressure after two consecutive weeks of gains.

According to market experts, the decline was driven by rising geopolitical tensions and weak earnings commentary from IT majors.

"Global developments continued to dictate market direction, particularly the uncertainty surrounding the West Asia crisis, which has kept crude oil prices elevated amid fears of supply disruptions," he noted.

Amid this backdrop, the combined market capitalisation of seven of the top-10 firms dropped by Rs 2,05,343.06 crore.

Tata Consultancy Services saw the sharpest decline, with its valuation falling by Rs 66,699.44 crore to Rs 8,67,364.12 crore.

Reliance Industries followed closely, losing Rs 50,670.34 crore in market value to Rs 17,96,647.50 crore.

HDFC Bank's valuation declined by Rs 23,090.05 crore to Rs 12,08,225.48 crore, while Life Insurance Corporation of India (LIC) saw its market cap drop by Rs 19,670.75 crore to Rs 5,13,020.56 crore.

Bharti Airtel also witnessed a fall of Rs 19,406.59 crore, taking its valuation to Rs 11,05,718.62 crore.

ICICI Bank's market capitalisation slipped by Rs 14,663.27 crore to Rs 9,50,345.40 crore, and Larsen and Toubro's valuation declined by Rs 11,142.62 crore to Rs 5,52,171.88 crore.

However, not all companies ended the week in the red. Hindustan Unilever added Rs 20,652.91 crore to reach a valuation of Rs 5,47,219.80 crore.

State Bank of India also gained Rs 19,522.76 crore, pushing its market cap to Rs 10,16,752.53 crore, while Bajaj Finance saw an increase of Rs 8,253.64 crore to Rs 5,73,690.81 crore.

Despite the weekly losses, Reliance Industries retained its position as India's most valued company, followed by HDFC Bank, Bharti Airtel, State Bank of India, ICICI Bank, TCS, Bajaj Finance, Larsen & Toubro, Hindustan Unilever and LIC.

- IANS

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Reader Comments

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Arjun K
Typical give and take in share bazaar. When markets rise everyone is a genius, when they fall we blame geopolitics. The real issue is corporate earnings - when IT companies give weak commentary, it's a red flag for the entire economy. sab mileage nahi hai
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Nisha Z
Good time to buy for those with cash. HDFC Bank and LIC are down but their fundamentals are solid. I'm planning to add some more TCS on Monday. But honestly, retail investors like us should stay cautious - this might not be the bottom yet. 📉
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Raghav A
Interesting how HUL and SBI rose while others fell. Shows defensive sectors like FMCG and PSU banks are safe havens during volatility. But let's not ignore the elephant in the room - crude oil at elevated levels is going to hurt everyone eventually. West Asia crisis is real.
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Brandon Y
As someone working in IT, I'm not surprised TCS is down. The sector is facing real headwinds - clients are cutting budgets, deal conversions are slowing down. This correction was overdue. Still, India's long-term story remains intact. Just need patience. đź‘Ť
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Kavya N
sab kuch theek hoga. Markets go up and down, it's normal. What matters is how India's economy performs in the long run. But I do feel for those who invested at the peak - losing money is never easy. Let's hope the next week brings some recovery. 🌟
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