TCS, Bharti Airtel lead decline as 8 of India’s top 10 companies lose Rs 1.65 lakh crore in market value
Last week, India’s top companies experienced a substantial decline in market value, with eight out of the top ten firms collectively losing Rs 1,65,784.9 crore. This downturn was in line with the negative trends observed in the equity markets, which saw the BSE benchmark index decrease by 628.15 points (0.82%) and the Nifty falling by 133.35 points (0.58%) due to weak global cues and concerns surrounding the ongoing tariff war.
Tata Consultancy Services (TCS) faced the most significant setback, with its market capitalization plummeting by Rs 53,185.89 crore to a total value of Rs 13.7 lakh crore. Following closely behind, Bharti Airtel observed a notable decline, with its market capitalization dropping by Rs 44,407.77 crore to Rs 9.3 lakh crore. Meanwhile, ICICI Bank experienced a decrease of Rs 18,235.45 crore in valuation, bringing its market cap down to Rs 8.7 lakh crore. Hindustan Unilever and Infosys also saw declines of Rs 17,962.62 crore and Rs 17,086.61 crore, respectively, leading to reductions in their market capitalization to Rs 5.2 lakh crore and Rs 7.5 lakh crore.
Further contributing to the overall market value decline, ITC witnessed a drop of Rs 11,949.42 crore in market capitalization to Rs 5 lakh crore, while HDFC Bank experienced a decrease of Rs 2,555.53 crore, bringing its valuation down to Rs 12.9 lakh crore. The State Bank of India (SBI) recorded a minor decline of Rs 401.61 crore, with its total valuation at Rs 6.4 lakh crore.
Experts anticipate continued volatility in the Indian stock markets in the near future. Investors are advised to closely monitor key economic indicators, such as the US Core PCE Price Index and India’s GDP figures, to gain insights into the market’s direction in the upcoming week.
