HDFC Bank Leads Weekly Market Value Losses as Sentiment Stays Weak

Mumbai — HDFC Bank recorded the sharpest decline among India’s most-valued companies last week, with its market capitalisation dropping by over Rs 56,000 crore amid a subdued stock market.

The bank’s valuation fell by Rs 56,124.48 crore, bringing its total market cap down to Rs 12.01 lakh crore. Overall, five of the country’s top-10 most valuable firms together lost more than Rs 1 lakh crore during the week.

Benchmark indices reflected the cautious mood. The BSE Sensex slipped marginally by 0.04 per cent, while the NSE Nifty declined 0.15 per cent, indicating a flat but slightly negative trend.

Other major losers included Hindustan Unilever, which saw its valuation drop by over Rs 18,000 crore, and Bajaj Finance, which lost more than Rs 15,000 crore. Tata Consultancy Services and ICICI Bank also reported notable declines in their market capitalisation.

In total, these five companies accounted for a combined erosion of Rs 1.02 lakh crore.

On the positive side, Bharti Airtel emerged as the biggest gainer, adding over Rs 24,000 crore to its valuation. State Bank of India also posted gains of more than Rs 10,000 crore. Meanwhile, Infosys and Life Insurance Corporation of India registered modest increases despite the overall weak market sentiment.

Market experts noted that while the week started on a positive note, a sharp decline later erased gains, leaving indices largely flat with a negative bias.

With inputs from IANS