Geopolitical flare-ups have rocked Indian stock markets, with HDFC Bank leading the losses at ₹61,715 crore in market capitalization this week. The catalyst? Surging crude oil prices amid Israel-US-Iran conflicts, which fueled a brutal market correction.
Last week, the benchmark Sensex plunged 5.51% or 4,354.98 points, and Nifty mirrored the pain with a 5.31% or 1,299.35-point fall. Panic selling ensued as investor confidence evaporated, slashing BSE’s overall market cap by ₹20 lakh crore to ₹430 lakh crore.
Among blue-chip names, the damage was extensive. SBI’s market value cratered by ₹89,306.22 crore to ₹9,66,261.05 crore, Bajaj Finance lost ₹59,082.49 crore ending at ₹5,32,053.54 crore, and TCS gave up ₹53,312.52 crore to reach ₹8,72,067.63 crore.
ICICI Bank, Bharti Airtel, Reliance, LIC, Infosys, and HUL weren’t spared either. ICICI Bank’s cap dipped ₹42,205.04 crore to ₹8,97,844.78 crore; Airtel fell ₹38,688.78 crore to ₹10,28,431.72 crore; Reliance dropped ₹33,289.88 crore to ₹18,68,293.17 crore; LIC shed ₹31,245.49 crore to ₹4,88,985.57 crore; Infosys lost ₹24,230.96 crore to ₹5,06,315.58 crore; and HUL declined ₹15,401.57 crore to ₹5,07,640.94 crore.
The collective ₹4.48 lakh crore evaporation from top companies signals deeper concerns over global energy markets and their ripple effects on India’s economy. Market watchers predict a cautious recovery, contingent on de-escalation in the Middle East.