Mcap of 7 of Top-10 Most Valued Firms Erodes by ₹88,635 Crore; Bharti Airtel, TCS Biggest Laggards

The domestic equity market witnessed a weak trend during the holiday-shortened trading week, leading to a significant erosion in the market capitalisation of seven of the top-10 most valued Indian companies. According to market data, these firms together lost ₹88,635 crore in valuation, with Bharti Airtel and Tata Consultancy Services (TCS) emerging as the biggest losers.

The overall sentiment remained cautious as the BSE Sensex dropped 722.43 points, or 0.86%, while the Nifty 50 index declined by 229.8 points, or 0.89% over the week. Analysts pointed to profit-booking, changes in global market cues, and investor caution ahead of key domestic and international economic announcements as the primary reasons behind the decline.

Bharti Airtel, TCS Lead Market Cap Losses

Among the companies that witnessed a drop in valuation, Bharti Airtel recorded one of the steepest losses. The telecom major has recently seen volatility due to sectoral competition and mixed investor expectations regarding tariff hikes. Meanwhile, TCS, one of the country’s most valuable IT companies, also faced pressure amid global uncertainty in the technology outsourcing market and concerns over discretionary spending by global clients.

Other major companies that suffered erosion in market value include:

Reliance Industries

HDFC Bank

ICICI Bank

State Bank of India (SBI)

Infosys

These companies, which form a significant portion of the benchmark indices, contributed heavily to the overall market weakness.

Three Companies Defy Trend, Post Gains

In contrast to the broader decline, three companies among the top ten managed to gain in market capitalisation:

Hindustan Unilever Ltd (HUL)

ITC

Life Insurance Corporation of India (LIC)

Consumer-oriented stocks, in particular, remained resilient amid expectations of strong demand during the ongoing festive and wedding season.

Market Outlook Remains Cautious

Market experts stated that while the weekly decline may appear sharp, long-term fundamentals of large-cap companies remain stable. However, they also cautioned that volatility is likely to persist, driven by:

Global economic signals

Foreign Institutional Investor (FII) fund flows

Movements in crude oil prices

US Federal Reserve interest rate commentary

“Investors are adopting a wait-and-watch approach ahead of key inflation and GDP data. The global market environment remains mixed, which also influences domestic equities,” a market analyst said.

Indices May Witness Selective Buying Ahead

Analysts expect sector-specific movement in the coming weeks, with banks, energy, FMCG, and telecom likely to dominate market discussions. Long-term investors have been advised to stay focused on fundamentals rather than short-term price fluctuations.