In a seismic shift on Dalal Street, market capitalization of seven out of India’s top 10 companies evaporated by more than ₹2 lakh crore during the week ended April 26. TCS bore the brunt with a ₹66,699 crore haircut, reducing its value to ₹8,67,364 crore, while Reliance Industries lost ₹50,670 crore, now valued at ₹17,96,648 crore.
Benchmark indices reflected the carnage: Sensex cratered 1,829.33 points (2.33%) to 76,664.21, and Nifty plunged 455.60 points (1.87%) to 23,897.95. The culprits in the top 10 losers’ club included HDFC Bank (-₹23,090 crore to ₹12,08,225 crore), LIC (-₹19,671 crore to ₹5,13,021 crore), Bharti Airtel (-₹19,407 crore to ₹11,05,719 crore), ICICI Bank (-₹14,663 crore to ₹9,50,345 crore), and L&T (-₹11,143 crore to ₹5,52,172 crore).
Bright spots emerged with HUL’s market cap surging ₹20,653 crore to ₹5,47,220 crore, SBI gaining ₹19,523 crore to ₹10,16,753 crore, and Bajaj Finance rising ₹8,254 crore to ₹5,73,691 crore.
The leaderboard remained largely unchanged, with Reliance retaining pole position ahead of HDFC Bank, Airtel, SBI, ICICI Bank, TCS, Bajaj Finance, L&T, HUL, and LIC. This downturn underscores broader market anxieties amid global uncertainties, leaving analysts watchful for the next move.
