Indian Stock Market Declines: Top 10 Companies Lose ₹3,09,244.57 Crore in Capitalisation

The Indian stock market has been experiencing significant sell-offs, leading to a decline in the total market capitalisation of the top-10 companies by ₹3,09,244.57 crore. Tata Consultancy Services (TCS) was the most affected during this period. The BSE benchmark Sensex dropped by 2,112.96 points or 2.80%, and the NSE Nifty decreased by 671.2 points or 2.94% last week.

In February, the Nifty index fell by 1,383.7 points or 5.88%, while the Sensex declined by 4,302.47 points or 5.55%. This sharp correction in the stock market has impacted several major companies significantly.

Tata Consultancy Services (TCS) saw its market cap reduce by ₹1.09 lakh crore to ₹12.60 lakh crore, causing it to drop from second to third place among India's top-10 companies. HDFC Bank overtook TCS to become the second-most valued company in India.

Infosys also faced a decline in its market cap, which fell by ₹52,697.93 crore to ₹7.01 lakh crore. Bharti Airtel's market capitalisation decreased by ₹39,230.1 crore to ₹8.94 lakh crore during this period.

Reliance Industries experienced a reduction in its market capitalisation by ₹38,025.97 crore, bringing it down to ₹16.23 lakh crore. Despite this loss, it retained its position as India's most valuable company.

The State Bank of India (SBI) saw its market cap decrease by ₹29,718.99 crore to ₹6.14 lakh crore. ICICI Bank's value dropped by ₹20,775.78 crore to ₹8.49 lakh crore, while Hindustan Unilever (HUL) experienced a decline of ₹11,700.97 crore to reach ₹5.14 lakh crore.

Companies with Market Cap Gains

Amidst these losses, some companies in the top-10 managed to increase their market cap last week. HDFC Bank's market value rose by ₹30,258.49 crore to reach ₹13.24 lakh crore.

Bajaj Finance also saw an increase in its market capitalisation by ₹9,050.24 crore, bringing its total value to ₹5.29 lakh crore.

The recent fluctuations in the stock market have resulted in notable changes in the rankings and valuations of India's leading companies.