India’s Top Companies Lose ₹2.22 Lakh Crore in Market Value

The market capitalization of six of India’s top ten companies decreased significantly last week, with a total decline of ₹2.22 lakh crore. This downturn was primarily driven by a substantial drop in the valuation of Reliance Industries, which alone accounted for the largest portion of the loss among its peers. Contributing factors included mixed earnings reports and foreign fund outflows, which heightened market volatility.

Reliance Industries experienced a sharp decline in its market capitalization, dropping by ₹1.14 lakh crore to a valuation of ₹18.83 lakh crore, according to data from the Bombay Stock Exchange (BSE). This marked the most substantial fall among the leading companies. Other major players also faced declines, including Tata Consultancy Services (TCS), Infosys, Bajaj Finance, Hindustan Unilever, and the Life Insurance Corporation of India (LIC).

In detail, Infosys saw its market capitalization decrease by ₹29,474.56 crore, bringing its total to ₹6.29 lakh crore. Meanwhile, LIC’s valuation fell by ₹23,086.24 crore, reaching ₹5.60 lakh crore. TCS experienced a drop of ₹20,080.39 crore, resulting in a market cap of ₹11.34 lakh crore. Bajaj Finance and Hindustan Unilever also reported declines in their valuations, reflecting the broader trend affecting the sector.

Resilience in Banking Sector

In contrast to the declines faced by these companies, both HDFC Bank and ICICI Bank saw increases in their market capitalizations last week. HDFC Bank’s valuation surged by ₹37,161.53 crore, elevating its total to ₹15.38 lakh crore. Similarly, ICICI Bank gained ₹35,814.41 crore, pushing its valuation to ₹10.53 lakh crore.

Additionally, Bharti Airtel experienced a market cap increase of ₹20,841.2 crore, while the State Bank of India (SBI) added ₹9,685.34 crore to its valuation during the same period. The contrasting performance between sectors highlights the ongoing volatility in India’s financial markets, as investors navigate mixed signals from earnings reports and economic indicators.

As the market adjusts to these fluctuations, stakeholders are closely monitoring the performance of these companies, particularly in light of foreign investment trends and upcoming financial disclosures. The situation underscores the dynamic nature of India’s corporate landscape, with both challenges and opportunities for growth.