The combined market valuation of seven of India’s top-10 most valued companies dropped by Rs 1.75 lakh crore last week due to global uncertainties and geopolitical tensions. Benchmark indices, including the Sensex and Nifty, saw declines, with the Sensex falling by 949.74 points and the Nifty by 294.9 points.
Experts analyzing the Nifty’s technical outlook warned that a breakdown below the 22,700–22,500 range could lead to increased selling pressure, potentially pushing the index towards the 22,000–21,744 zone, which corresponds to the 52-week low region. They also highlighted the immediate resistance levels at 23,000–23,100, followed by a stronger supply zone in the 23,300–23,500 range.
Market analysts attributed the week’s high volatility to fluctuating global cues and escalating tensions in West Asia. Factors such as concerns over energy supply disruptions, a weakening rupee hitting a record low, and increased market volatility contributed to early losses. Despite a brief mid-week recovery on hopes of reduced US-Iran tensions, fresh selling pressure on Friday erased gains and pushed the indices lower.
In terms of market capitalization, Reliance Industries experienced the most significant decline, losing Rs 89,720.3 crore, followed by HDFC Bank with a drop of Rs 37,248.59 crore. State Bank of India and ICICI Bank also witnessed declines in their valuations, along with Bharti Airtel, Hindustan Unilever, and Tata Consultancy Services. However, Larsen & Toubro emerged as a gainer, adding Rs 18,051.68 crore to its valuation, while Bajaj Finance and Infosys also saw gains in their market capitalization.
Despite the overall decline, Reliance Industries maintained its position as the most valued company in India, followed by HDFC Bank, Bharti Airtel, State Bank of India, ICICI Bank, and Tata Consultancy Services.
