Mumbai’s stock market ended the week on a sour note, with heavy selling pressure dragging down major indices. Among the top 10 most valuable companies, Tata Consultancy Services (TCS) suffered the steepest blow, shedding a whopping Rs 90,198.92 crore in market capitalization. The IT giant’s value plummeted to Rs 9,74,043.43 crore, marking it as the biggest loser in the elite club.
The broader market mirrored this gloom, with the BSE Sensex diving 953.64 points or 1.14 percent. Six of the top 10 firms collectively lost over Rs 3 lakh crore in market value, underscoring investor jitters amid global uncertainties and sector-specific headwinds.
IT stocks bore the brunt, with Infosys close behind TCS, its market cap eroding by Rs 70,780.23 crore to Rs 5,55,287.72 crore. HDFC Bank’s valuation dipped Rs 54,627.71 crore to Rs 13,93,621.92 crore, while Reliance Industries, despite a Rs 41,883 crore drop, held onto its top spot at Rs 19,21,475.79 crore.
LIC saw its market cap fall Rs 23,971.74 crore to Rs 5,46,226.80 crore, and Bharti Airtel lost Rs 19,244.61 crore, settling at Rs 11,43,044.03 crore. Not all was doom and gloom, however. State Bank of India (SBI) bucked the trend, gaining Rs 1,22,213.38 crore to reach Rs 11,06,566.44 crore, emerging as the week’s top gainer.
Bajaj Finance added Rs 26,414.44 crore, hitting Rs 6,37,244.64 crore, while Larsen & Toubro (L&T) climbed Rs 14,483.9 crore to Rs 5,74,028.93 crore. ICICI Bank also posted gains of Rs 5,719.95 crore, reaching Rs 10,11,978.77 crore.
Despite the volatility, Reliance retained its crown as India’s most valuable company. The top 10 lineup now features Reliance, HDFC Bank, Bharti Airtel, SBI, ICICI Bank, TCS, Bajaj Finance, L&T, Infosys, and LIC. Investors will watch closely for cues from upcoming earnings and global markets to gauge if this downturn signals deeper troubles or a temporary blip.