- Last week, the BSE Sensex fell 2,091.68 points and the Nifty declined 566.85 points, driven by a surge in crude oil prices and geopolitical tensions.
- Nine of India's top-10 most valued companies saw their combined market capitalisation erode by ₹2.74 lakh crore amid weak equities.
- HDFC Bank recorded the largest drop, losing ₹1,18,383.91 crore in valuation, with shares declining by 9.40 per cent.
- Hindustan Unilever was the sole gainer, adding ₹152.73 crore in market cap.
- The market witnessed a weak and volatile week, with benchmark indices extending their losing streak due to a sharp surge in crude oil prices and renewed geopolitical tensions.
- Banking stocks emerged as the biggest drag following mixed Q1 FY27 earnings, while a risk-off environment and weakness in the rupee curtailed buying interest.
Nine of India's top-10 firms saw a staggering ₹2.74 lakh crore wiped off their market capitalisation last week, driven by a bearish trend in equities.2
HDFC Bank experienced the most significant loss, with its valuation plummeting by ₹1,18,383.91 crore to ₹11,43,985.90 crore, reflecting a 9.40% decline in share prices amid margin concerns.3
The BSE benchmark Sensex fell 2,091.68 points (2.67%), while the NSE Nifty dropped 566.85 points (2.32%) during the week.1
According to Ajit Mishra, SVP of Research at Religare Broking Ltd, “Markets witnessed a weak and volatile week, with benchmark indices extending their losing streak as a sharp surge in crude oil prices and renewed geopolitical tensions weighed heavily on investor sentiment.”5
Banking stocks were particularly affected, with mixed Q1 FY27 earnings contributing to a risk-off environment.6
Other notable losses included Reliance Industries, which saw a valuation drop of ₹65,429.82 crore, and State Bank of India, which lost ₹26,814.94 crore.
In contrast, Hindustan Unilever was the only firm to gain, with its market capitalisation increasing by ₹152.73 crore to ₹5,03,928.59 crore.4
The top-10 firms ranked by valuation remain led by Reliance Industries, followed by Bharti Airtel, HDFC Bank, and others.
“The selloff was fueled by a sharp surge in crude oil prices and renewed geopolitical tensions, with banking stocks dragging the market after mixed Q1 earnings. Hindustan Unilever was the sole gainer, adding ₹152.73 crore in market cap.”
ET Now
