India’s equity markets witnessed a muted week as the combined market capitalization of five of the country’s top-10 most valued companies declined by over ₹1 lakh crore, with HDFC Bank emerging as the biggest loser.
Benchmark indices showed marginal movement, with the BSE Sensex slipping slightly and the NSE Nifty also ending the week in the red. Market sentiment remained cautious, as early gains in the week were wiped out by a sharp decline on Thursday, followed by volatility in the final trading session.
Major Losers Drag Market Down
Among the laggards were HDFC Bank, ICICI Bank, Tata Consultancy Services, Bajaj Finance, and Hindustan Unilever. Together, these firms saw a combined erosion of approximately ₹1.03 lakh crore in market valuation.
HDFC Bank alone accounted for the largest drop, losing over ₹56,000 crore in value. Hindustan Unilever also recorded a significant decline, with its valuation falling by more than ₹18,000 crore.
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On the other hand, gains in companies like Reliance Industries, Bharti Airtel, State Bank of India, Infosys, and Life Insurance Corporation of India helped limit the overall market decline.
Bharti Airtel led the gainers with a strong increase in market capitalization, followed by State Bank of India. Modest gains were also recorded by Infosys and Life Insurance Corporation of India.
Cautious Market Mood
Market experts noted that despite a stable start to the week, investor sentiment remained fragile due to underlying uncertainties. The sharp correction midweek highlighted the cautious approach of market participants, resulting in a largely flat but slightly negative weekly performance.
Overall, the week reflected a tug-of-war between selective buying and profit booking, keeping the broader market direction subdued.
