Indian stock markets witnessed a muted week as seven of the top ten most valued companies saw their combined market capitalisation erode by nearly Rs 1.13 lakh crore. Bharti Airtel and Reliance Industries suffered the steepest declines, while TCS, ICICI Bank and SBI managed to post gains despite the broader weakness. The BSE Sensex dropped 276.32 points or 0.35 percent for the week, while the NSE Nifty slipped 76.35 points or 0.31 percent.
Reliance and Airtel Lose Most Ground
Reliance Industries saw its market cap fall by Rs 40,056.32 crore to Rs 17,38,119.27 crore. Despite the drop, it remains the most valuable company in the country. Bharti Airtel suffered an even sharper erosion of Rs 40,500.85 crore, bringing its valuation to Rs 11,74,462.30 crore.
HDFC Bank, Bajaj Finance and L&T Follow Losses
HDFC Bank’s market cap declined by Rs 11,558.35 crore to Rs 11,09,600.70 crore. Bajaj Finance lost Rs 10,086.05 crore, falling to Rs 6,70,535.57 crore. Larsen and Toubro saw a reduction of Rs 6,473.45 crore, while LIC dropped Rs 3,162.50 crore and Hindustan Unilever slipped Rs 1,550.73 crore in market valuation.
TCS, ICICI Bank and SBI Defy the Downtrend
Tata Consultancy Services posted the strongest gains with its market cap rising Rs 16,643.20 crore to Rs 8,48,079.71 crore. A rally in IT stocks driven by positive global technology cues boosted TCS shares. ICICI Bank added Rs 4,475.28 crore to reach Rs 10,22,805.73 crore. State Bank of India gained Rs 599.99 crore, taking its valuation to Rs 9,65,568.75 crore.
Market Remains in Correction Phase
Market expert Ajit Mishra said the Indian stock market remained under pressure for the third consecutive week and is currently in a correction phase. A partial recovery on Friday came from IT stock buying, but overall caution persists. Key factors weighing on sentiment include global interest rate concerns, geopolitical developments and volatility linked to the new closing auction mechanism. The top ten ranking remains led by Reliance Industries at number one, followed by Bharti Airtel, HDFC Bank, ICICI Bank, SBI, TCS, Bajaj Finance, L&T, LIC and Hindustan Unilever.
