Key Indexes Slip as Major Corporations Lose Value in Week Ending Aug 23

Mumbai, August 23 – The Indian equity market witnessed a notable pull‑back last week, with the Sensex dropping 468.42 points (0.60%) to close at 77,540.83 and the Nifty slipping 114 points (0.47%) to 24,252. The decline was driven by a broad‑based sell‑off that eroded the market capitalisation of four of the country’s top ten listed firms by about ₹87,960.29 crore.

The firms most impacted were Bharti Airtel, Tata Consultancy Services, State Bank of India and Hindustan Unilever, each seeing a sharp reduction in market value. Other large‑cap players such as LIC, Reliance Industries, L&T, ICICI Bank, Bajaj Finance and HDFC Bank also posted lower valuations, though the magnitude varied.

During the trading session from August 17 to 21, Bharti Airtel’s market cap fell by ₹28,052.96 crore, ending at ₹12,14,963.15 crore. TCS’s valuation slipped by ₹22,070.34 crore to ₹8,31,436.51 crore. SBI’s market cap decreased by ₹20,861.20 crore to ₹9,64,968.76 crore, while Hindustan Unilever’s value fell by ₹16,975.79 crore to ₹4,73,912.56 crore.

In contrast, LIC’s market cap rose by ₹12,650 crore to ₹5,35,980.31 crore, Reliance’s valuation grew by ₹8,119.53 crore to ₹17,78,175.59 crore, L&T added ₹3,487.83 crore to reach ₹5,62,460.94 crore, and Bajaj Finance’s market cap increased by ₹3,424.28 crore to ₹6,80,621.62 crore. ICICI Bank’s market value climbed by ₹752.47 crore to ₹10,18,330.45 crore, and HDFC Bank’s market cap rose by ₹356.95 crore to ₹11,21,159.05 crore.

Reliance Industries continued to lead as the most valuable Indian company by market capitalisation, followed by Bharti Airtel, HDFC Bank, ICICI Bank, State Bank of India, TCS, Bajaj Finance, L&T, LIC and Hindustan Unilever within the top ten.