Top Indian Firms See Market Cap Plummet by ₹3 Lakh Crore Amid Market Slump

A tumultuous week for the Indian stock market has resulted in a significant erosion of market capitalization for eight of the top ten most valued companies, with a staggering loss of over ₹3 lakh crore. Tata Consultancy Services (TCS) bore the brunt of the downturn, experiencing the steepest decline and slipping to third place in market value rankings. The past week, shortened by holidays, witnessed a sharp bearish trend, with the BSE Sensex plummeting by 2,112.96 points (2.80%) and the NSE Nifty falling by 671.2 points (2.94%). This downturn contributed to a dismal February, where the Nifty shed 1,383.7 points (5.88%) and the Sensex lost 4,302.47 points (5.55%).

Leads the Decline Tata Consultancy Services (TCS) suffered the most significant blow, with its market valuation plunging by ₹1,09,211.97 crore to ₹12,60,505.51 crore. This drastic drop pushed TCS below HDFC Bank, which now holds the position of the second most valuable company. Other major firms also experienced substantial losses: s: Saw its valuation drop by ₹52,697.93 crore to ₹7,01,002.22 crore. Bharti !Airtel: Experienced a decline of ₹39,230.1 crore, bringing its market capitalization to ₹8,94,993.67 crore. Industries: The most valuable company, also saw a reduction of ₹38,025.97 crore, with its valuation now at ₹16,23,343.45 crore. !State Bank of India (SBI): Lost ₹29,718.99 crore, resulting in a market capitalization of ₹6,14,236.97 crore. ICICI Bank: Witnessed a decrease of ₹20,775.78 crore, bringing its valuation to ₹8,49,803.90 crore. Hindustan Unilever: Saw a drop of ₹11,700.97 crore, with its market cap now at ₹5,14,983.41 crore. ITC: Experienced a decline of ₹7,882.86 crore, bringing its valuation to ₹4,93,867.57 crore.