TCS and HDFC Bank were hit the hardest as the top-10 firms in the Indian market suffered a combined loss of ₹1.9 trillion in market value, reflecting the recent bearish trend in equities. According to recent reports, Reliance Industries continues to hold its position as the most valued company, followed by TCS, HDFC Bank, ICICI Bank, Hindustan Unilever, Infosys, ITC, Bharti Airtel, State Bank of India, and Bajaj Finance.
Last week, the market saw a significant drop, with the BSE benchmark declining by 1,614.82 points or 2.46%. TCS experienced the biggest blow, with its market valuation plunging by ₹52,580.57 crore to ₹12,25,983.46 crore. HDFC Bank also suffered a substantial decline of ₹40,562.71 crore in market capitalization, bringing it down to ₹11,14,185.78 crore.
Reliance Industries’ valuation dropped by ₹22,935.65 crore to ₹15,32,595.88 crore, while Infosys saw a significant tumble of ₹19,320.04 crore to Rs 5,73,022.78 crore. Bharti Airtel’s market capitalization fell by ₹17,161.01 crore to ₹5,13,735.07 crore, and Bajaj Finance witnessed a decline of ₹15,759.95 crore, bringing its market cap to ₹4,54,814.95 crore.
ICICI Bank’s valuation also tanked by ₹13,827.73 crore to ₹6,39,292.94 crore, and ITC slipped by ₹5,900.49 crore to ₹5,40,637.34 crore. Hindustan Unilever experienced a decline of ₹3,124.96 crore to ₹5,83,098.06 crore, while State Bank of India’s market cap dipped by ₹2,008.04 crore to ₹5,00,670.73 crore.
The bearish trend in equities has impacted these top firms, leading to a combined erosion of ₹1,93,181.15 crore in market valuation. Investors are closely monitoring these fluctuations and analyzing the implications for the broader market.
In conclusion, TCS and HDFC Bank faced significant losses in market value, highlighting the currently bearish sentiment in Indian equities. As the market continues to fluctuate, investors are advised to exercise caution and evaluate their investment strategies accordingly.