Market Capitalization of Top 10 Companies Takes a Hit

Last week, the combined market capitalization of the top-10 most valued firms in India declined by Rs 4,95,061 crore, reflecting a bearish trend in the equity market. Leading the losses were TCS and Reliance Industries, which saw significant drops in their valuations.

The BSE Sensex also experienced a decline, falling by 4,091.53 points or 4.98% during the same period. This marks the steepest weekly decline for the Indian equity market since June 2022, with the Nifty losing 4.77%.

Impact of US Federal Reserve's Announcement

The week began with the US Federal Reserve's announcement, which significantly altered market sentiment. The Federal Reserve, led by Chair Jerome Powell, revised its outlook to only two rate cuts in 2025 instead of the previously anticipated four. This shift in policy dampened market confidence, according to Pravesh Gour, senior technical analyst at Swastika Investmart Ltd.

Individual Company Losses

TCS's market valuation reduced by Rs 1,10,550.66 crore to Rs 15,08,036.97 crore, while Reliance Industries' valuation declined by Rs 91,140.53 crore to Rs 16,32,004.17 crore. HDFC Bank, Bharti Airtel, State Bank of India, ICICI Bank, Infosys, LIC, Hindustan Unilever, and ITC also saw their market capitalizations decrease.

Despite the losses, 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.