Mumbai, March 22 – HDFC Bank emerged as the biggest loser among India’s top companies last week, with its market capitalization dropping over Rs 56,000 crore, even as broader equity markets remained largely flat.
India’s stock markets experienced a cautious week, with five of the top 10 most-valued companies collectively losing more than Rs 1 lakh crore in market capitalization.
The sharpest decline was seen in HDFC Bank, whose valuation fell by Rs 56,124.48 crore to Rs 12,01,267.28 crore.
Market sentiment remained muted, with the BSE Sensex slipping 30.96 points (0.04%) and the NSE Nifty declining 36.6 points (0.15%) during the week.
Ajit Mishra, SVP (Research) at Religare Broking Ltd, noted that the market ended the week on a flat note with a negative undertone. While the first three trading sessions were positive, a sharp fall on Thursday erased gains, followed by volatility in the final session.
Other major laggards included Hindustan Unilever, Bajaj Finance, Tata Consultancy Services (TCS), and ICICI Bank. Hindustan Unilever’s market value fell by Rs 18,096.62 crore to Rs 4,89,631.32 crore, Bajaj Finance lost Rs 15,338.42 crore to Rs 5,16,715.12 crore, TCS declined by Rs 7,127.63 crore to Rs 8,64,940 crore, and ICICI Bank’s capitalization dropped Rs 6,171.72 crore to Rs 8,91,673.06 crore. Collectively, these five companies saw a total market value erosion of Rs 1,02,771.87 crore.
Despite the overall weak trend, some heavyweight firms posted gains. Bharti Airtel surged Rs 24,462.03 crore, taking its market capitalization to Rs 10,52,893.75 crore. State Bank of India added Rs 10,707.52 crore to reach Rs 9,76,968.57 crore. Infosys and Life Insurance Corporation of India (LIC) also recorded modest gains, with market valuations rising to Rs 5,08,789.37 crore and Rs 4,91,610.45 crore, respectively.
This week’s market activity highlights a selective downturn, with banking and consumer stocks under pressure while telecom and public sector heavyweights maintain resilience.
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