Market Cap of Top Firms Plunges by Rs 3.09 Lakh Crore; TCS Loses Top Spot to HDFC Bank

In a turbulent, holiday-shortened trading week, eight of India's top-10 most valued companies witnessed a dramatic erosion of Rs 3,09,244.57 crore in their combined market capitalisation. Tata Consultancy Services (TCS) suffered the largest setback amid a bearish trend in equity markets, slipping from second to third place among India's most valuable firms.

Sensex and Nifty Plunge Sharply​

Reflecting investor uncertainty, the BSE Sensex nosedived 2,112.96 points (2.80%), closing sharply lower for the week. Simultaneously, the NSE Nifty declined 671.2 points, a steep fall of 2.94%. February proved particularly harsh for investors, with the Nifty sliding 1,383.7 points (5.88%) and Sensex shedding 4,302.47 points (5.55%).

TCS Sees Major Valuation Drop; HDFC Bank Gains​

TCS recorded the week's biggest market cap loss among top firms, witnessing a steep plunge of Rs 1,09,211.97 crore. Its valuation dropped sharply to Rs 12,60,505.51 crore, causing the IT giant to lose its second-place position to HDFC Bank, whose valuation surged by Rs 30,258.49 crore, climbing to Rs 13,24,411.31 crore.

Infosys and Bharti Airtel Among Top Losers​

Other notable companies experiencing significant valuation losses include Infosys, which saw its market cap fall by Rs 52,697.93 crore to Rs 7,01,002.22 crore. Bharti Airtel followed closely, losing Rs 39,230.1 crore to end at Rs 8,94,993.67 crore.

Reliance Industries, India's most valued company, wasn't immune either, as its market capitalisation shrank by Rs 38,025.97 crore, settling at Rs 16,23,343.45 crore.

Banks and FMCG Firms Feel the Heat​

Banking giant State Bank of India (SBI) also saw its valuation diminish by Rs 29,718.99 crore, reaching Rs 6,14,236.97 crore. ICICI Bank faced losses too, with its market capitalisation dropping by Rs 20,775.78 crore to Rs 8,49,803.90 crore.

FMCG majors weren't spared; Hindustan Unilever's valuation dipped by Rs 11,700.97 crore to Rs 5,14,983.41 crore, while ITC lost Rs 7,882.86 crore, reducing its valuation to Rs 4,93,867.57 crore.

Bajaj Finance Bucks Trend​

In a challenging week for equities, Bajaj Finance emerged resilient, adding Rs 9,050.24 crore to its valuation, taking it up to Rs 5,29,516.99 crore.

India's Top-10 Most Valued Firms Now Ranked:​

1. Reliance Industries (Rs 16,23,343.45 crore)
2. HDFC Bank (Rs 13,24,411.31 crore)
3. Tata Consultancy Services (Rs 12,60,505.51 crore)
4. Bharti Airtel (Rs 8,94,993.67 crore)
5. ICICI Bank (Rs 8,49,803.90 crore)
6. Infosys (Rs 7,01,002.22 crore)
7. State Bank of India (Rs 6,14,236.97 crore)
8. Bajaj Finance (Rs 5,29,516.99 crore)
9. Hindustan Unilever (Rs 5,14,983.41 crore)
10. ITC (Rs 4,93,867.57 crore)

This week's significant market volatility underscores ongoing investor caution amid uncertain market conditions.