Crude oil above $80 and mixed global cues drove the selloff, with TCS losing ₹34,263 crore in market cap. Five top firms lost ₹1 lakh crore last week.
Five of India's ten most valuable companies lost a combined ₹1 lakh crore in market capitalisation last week, with Tata Consultancy Services accounting for the biggest single drop. The BSE Sensex fell 490 points and the Nifty slipped 205 points over the week, dragged by rising crude oil prices and renewed geopolitical uncertainty.
TCS shed ₹34,263 crore from its valuation, bringing its total to ₹8.53 lakh crore. Reliance Industries lost ₹31,869 crore, State Bank of India ₹25,892 crore, HDFC Bank ₹7,165 crore, and ICICI Bank ₹2,793 crore. HDFC Bank, with an Alpha Score of 36 on AlphaScala's proprietary gauge, remains in mixed territory, while ICICI Bank at 57 carries a moderate rating.
On the gainers' side, Life Insurance Corporation of India added ₹26,438 crore in market cap, the most among the five winners. Bharti Airtel gained ₹20,592 crore, Bajaj Finance ₹3,549 crore, Larsen & Toubro ₹2,491 crore, and Hindustan Unilever ₹2,079 crore. The five gainers together added ₹55,149 crore.
Elevated crude oil prices, renewed geopolitical uncertainty and mixed global cues weighed on sentiment, said Ajit Mishra, SVP of Research at Religare Broking. Crude traded above $80 a barrel during the week while tensions in the Middle East added to the cautious tone.
Reliance Industries retained its position as India's most valuable firm with a market cap of ₹17.7 lakh crore, followed by Bharti Airtel at ₹12.43 lakh crore, HDFC Bank at ₹11.21 lakh crore, and ICICI Bank at ₹10.18 lakh crore. State Bank of India at ₹9.86 lakh crore, TCS at ₹8.53 lakh crore, Bajaj Finance at ₹6.77 lakh crore, Larsen & Toubro at ₹5.59 lakh crore, LIC at ₹5.23 lakh crore, and Hindustan Unilever at ₹4.91 lakh crore round out the top ten.
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