The market capitalization of top 10 companies has decreased by Rs 4.95 lakh crore, with TCS and Reliance being the most affected.

Last week was a rough one for the Indian stock market as the combined market value of the top 10 most valued companies dropped by a staggering Rs 4,95,061 crore. This downward trend was in line with the overall bearish sentiment in the equities market, with Tata Consultancy Services and Reliance Industries taking the biggest hit.

The BSE benchmark also took a major hit, dropping by 4,091.53 points or 4.98%. Senior Technical Analyst from Swastika Investmart Ltd, Pravesh Gour, shared his insight on the situation, stating that this was the largest weekly decline since June 2022. The market's week began on a shaky note with the announcement from the US Federal Reserve, which greatly impacted market sentiment.

Led by Chair Jerome Powell, the Federal Reserve changed its outlook to only two rate cuts in 2025, down from the previously expected four. This sudden shift in policy caused a lack of confidence in the market, leading to the significant decline in market value.

Among the top 10 companies, Tata Consultancy Services saw the biggest drop in market capitalization, losing Rs 1,10,550.66 crore and bringing its total market value to Rs 15,08,036.97 crore. Following closely behind was Reliance Industries, whose valuation tumbled by Rs 91,140.53 crore to Rs 16,32,004.17 crore.

HDFC Bank also took a major hit, with its market value dropping by Rs 76,448.71 crore to Rs 13,54,709.35 crore, while Bharti Airtel saw a decrease of Rs 59,055.42 crore, bringing its total market value to Rs 8,98,786.98 crore. State Bank of India and ICICI Bank also faced significant declines, with their market values dropping by Rs 43,909.13 crore and Rs 41,857.33 crore respectively.

Other companies that saw a decline in market value include Infosys, Life Insurance Corporation of India, Hindustan Unilever, and ITC. In the top 10 ranking, Reliance Industries maintained its position as the most valued company, followed by TCS, HDFC Bank, ICICI Bank, Bharti Airtel, Infosys, State Bank of India, ITC, LIC, and Hindustan Unilever.

Overall, it was a challenging week for the Indian stock market, with various factors contributing to the decline in market value. Many investors will be keeping a close eye on the market in the coming weeks to see how it recovers from this significant drop in value.

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