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India’s stock market saw a big fall last week. Seven of the top companies lost a total of more than Rs. 2 lakh crore in value. This sharp drop in the top firms' market cap came as the market mood turned weak.
The fall matched the decline in the BSE Sensex, which dropped by 1,829 points during the week. The Nifty 50 also fell by 455 points. After two weeks of gains, the market moved into a correction phase.
Tata Consultancy Services faced the biggest loss. The company lost Rs. 66,699 crore in market value. Its total value came down to Rs. 8.67 lakh crore. Weak updates from IT companies hurt investor trust and added pressure on the sector.
Reliance Industries also saw a big fall. Its market value dropped by Rs. 50,670 crore. The total value stood at Rs. 17.96 lakh crore. Even after this fall, Reliance remained the most valuable company in India.
Banking and finance companies also saw losses. HDFC Bank lost over Rs. 23,000 crore in value. ICICI Bank lost around Rs. 14,600 crore. Life Insurance Corporation of India and Bharti Airtel each lost close to Rs. 19,000 crore. Larsen & Toubro also saw a fall of more than Rs. 11,000 crore.
Experts said global issues caused this fall. Tensions in West Asia pushed crude oil prices higher. This raised fears about supply problems and costs. Weak earnings talk from IT companies also made investors cautious.
Still, not all companies faced losses. Hindustan Unilever gained more than Rs. 20,600 crore. State Bank of India added Rs. 19,522 crore. Bajaj Finance also gained over Rs. 8,200 crore. These gains showed that some sectors stayed strong.
The stock market crash showed that investors remained cautious. Profit booking after recent gains also played a role. Global news and company earnings continued to guide market direction.
Even after the fall, Reliance Industries stayed at the top. HDFC Bank and Bharti Airtel followed in the list. The latest fall shows that market volatility may continue in the coming days.
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