India’s stock market faced a turbulent week as the combined market capitalisation of six out of the country’s ten most valuable companies plunged by ₹94,433.12 crore, amid sustained pressure across key indices. According to data reported by PTI and financial markets analysis from BSE filings, tech giant Tata Consultancy Services (TCS) and oil-to-telecom conglomerate Reliance Industries led the decline.
The BSE benchmark Sensex closed 742.74 points—or 0.90%—lower over the week. By Friday, market sentiment remained weak, with the Nifty50 slipping below the 25,000 mark and posting a one-month low. The index ended the day down 143.05 points at 24,968.40, while the Sensex dropped by 501.51 points to 81,757.73.
Biggest Losers: TCS and Reliance Take the Brunt
TCS saw its valuation tumble by ₹27,334.65 crore, dragging its total market capitalisation down to ₹11,54,115.65 crore. The IT major’s shares bore the brunt of investor caution amid weak global tech cues and persistent selling in large-cap technology stocks.
Reliance Industries, India’s most valuable company by market capitalisation, also suffered a steep erosion of ₹20,051.59 crore, taking its total valuation to ₹15,00,917.42 crore. The drop followed broader pressure on energy and telecom stocks, which saw bearish sentiment amid fluctuating global crude prices and regulatory noise.
Bharti Airtel lost ₹11,888.89 crore in valuation, falling to ₹10,83,998.73 crore, while Hindustan Unilever, another Nifty heavyweight, saw a market value drop of ₹7,330.72 crore, closing the week with a cap of ₹5,84,789.77 crore.
Infosys, often considered a bellwether for India’s IT sector, witnessed a market capitalisation decline of ₹3,468.82 crore, finishing at ₹6,59,096.12 crore.
Gainers: SBI, ICICI Bank, Bajaj Finance, LIC Buck the Trend
Amid the market downturn, State Bank of India (SBI) posted the highest gain among the top ten firms, with its market capitalisation jumping ₹13,208.44 crore to ₹7,34,763.97 crore. The rally in SBI was attributed to robust quarterly earnings guidance and optimism over banking sector credit growth.
ICICI Bank added ₹3,095 crore to its valuation, taking it to ₹10,18,008.73 crore, while Bajaj Finance, a key NBFC, gained ₹5,282.15 crore and closed with a market cap of ₹5,85,292.83 crore. Life Insurance Corporation of India (LIC) also inched up, adding ₹506 crore to settle at ₹5,83,828.91 crore.
Index Performance: Market Sinks to One-Month Low
Equity markets extended their losing streak into a second consecutive session on Friday, driven by a widespread sell-off across sectors. While metal and media stocks managed modest gains, banking, FMCG, and tech stocks saw heavy outflows.
The declines also reflect investor caution ahead of corporate earnings announcements, geopolitical uncertainties, and concerns over valuations amid global monetary policy shifts.
“The correction was overdue,” said Avinash Gorakshakar, Head of Research at Profitmart Securities, speaking to CNBC-TV18. “We’re seeing some sectoral rotation, and the tech pack especially is facing renewed pressure.”
Top 10 Firms by Market Capitalisation (Rank-wise)
Reliance Industries
HDFC Bank
Tata Consultancy Services (TCS)
Bharti Airtel
ICICI Bank
State Bank of India (SBI)
Infosys
Bajaj Finance
Hindustan Unilever (HUL)
Life Insurance Corporation of India (LIC)
With the earnings season in full swing and macroeconomic indicators painting a mixed picture, analysts expect volatility to persist. The benchmark indices may face further consolidation if global cues remain unfavourable and foreign institutional investors (FIIs) continue to trim exposure.
Domestic investors are advised to focus on quality stocks with strong fundamentals as markets navigate this correction phase.