HDFC Bank takes biggest hit as market valuation plunges over ₹56,000 crore in last week

HDFC Bank emerged as the biggest loser among India’s most-valued companies last week, with its market valuation plunging by over ₹56,000 crore, even as the broader stock market remained largely flat with a negative bias. 

India’s equity markets witnessed a cautious week, with five of the top-10 most-valued companies together losing over ₹1 lakh crore in market capitalisation.

The decline was led by HDFC Bank, whose valuation dropped sharply by ₹56,124.48 crore to ₹12,01,267.28 crore.

The broader market reflected muted sentiment. The BSE Sensex slipped marginally by 30.96 points, or 0.04%, while the NSE Nifty declined 36.6 points, or 0.15% during the week.

Ajit Mishra, SVP (Research) at Religare Broking Ltd, said the market ended on a largely flat note with a negative undertone.

He noted that while the first three trading sessions remained positive, a sharp fall on Thursday wiped out the gains, followed by a volatile final session.

Apart from HDFC Bank, other major laggards included Hindustan Unilever, Bajaj Finance, Tata Consultancy Services (TCS), and ICICI Bank.

Hindustan Unilever’s market valuation fell by ₹18,009.62 crore to ₹4,89,631.32 crore, while Bajaj Finance lost ₹15,338.42 crore to ₹5,16,715.12 crore.

TCS saw its valuation decline by ₹7,127.63 crore to ₹8,64,940 crore, and ICICI Bank’s mcap dipped by ₹6,171.72 crore to ₹8,91,673.06 crore.

Overall, the combined erosion in market value of these five companies stood at ₹1,02,771.87 crore.

On the other hand, some heavyweight firms managed to post gains despite the weak trend. Bharti Airtel saw a strong rise of ₹24,462.03 crore, pushing its market capitalisation to ₹10,52,893.75 crore.

State Bank of India added ₹10,707.52 crore to reach ₹9,76,968.57 crore in valuation. Infosys and Life Insurance Corporation of India (LIC) also posted modest gains, with their market capitalisations rising to ₹5,08,789.37 crore and ₹4,91,610.45 crore, respectively.

(This story was taken from syndicated feed and was only edited for style by Gujarat Samachar Digital team)