ICICI Bank, Hindustan Unilever Among Major Losers as Indian Stocks Lose Rs 1.65 Lakh Crore

India’s equity market witnessed significant declines last week, with eight of the country’s top 10 most valuable companies losing a total of Rs 1.65 lakh crore in market capitalisation. The fall in market value aligns with bearish trends in global equities, as weak global cues and concerns over the ongoing tariff war weighed on investor sentiment.

Among the major losers, Tata Consultancy Services (TCS) faced the largest drop, with its market capitalisation falling by Rs 53,185.89 crore. This reduction in TCS’s value brought its total market cap down to Rs 13.7 lakh crore.

Bharti Airtel was another significant casualty, seeing a sharp decline of Rs 44,407.77 crore in its market value, bringing its valuation to Rs 9.3 lakh crore.

Other Major Declines in India’s Top 10 Firms

Other leading companies also experienced market capitalisation losses during the week. ICICI Bank’s market value shrank by Rs 18,235.45 crore, resulting in a valuation of Rs 8.7 lakh crore. Hindustan Unilever saw a reduction of Rs 17,962.62 crore, dropping its market cap to Rs 5.2 lakh crore.

Infosys, another major player, lost Rs 17,086.61 crore, reducing its market valuation to Rs 7.5 lakh crore. Similarly, ITC saw a decline of Rs 11,949.42 crore, bringing its total market cap to Rs 5 lakh crore. HDFC Bank also experienced a minor loss of Rs 2,555.53 crore, which lowered its market cap to Rs 12.9 lakh crore.

State Bank of India (SBI) recorded a smaller decline of Rs 401.61 crore, resulting in a market cap of Rs 6.4 lakh crore.

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Stock Market Outlook and Volatility

The weak performance of India’s top companies reflects broader market volatility. The BSE benchmark index dropped by 628.15 points, or 0.82 percent, while the Nifty fell by 133.35 points, or 0.58 percent during the week. Experts predict continued market uncertainty in the near term, driven by global economic factors and market sentiment.

Investors are expected to keep a close watch on key upcoming economic data, including the US Core PCE Price Index and India’s GDP figures, which could provide further guidance on market direction.

Technical Outlook for Indian Stock Markets

According to Dhupesh Dhameja from SAMCO Securities, the Indian stock market has formed an indecision candle at the support zone, indicating uncertainty in the broader trend. He highlighted that the 22,800–22,700 range has emerged as a strong buffer against deeper declines, while the 23,000 level, previously a demand area, has turned into resistance due to aggressive call writing and short-term moving averages.

Investors are advised to stay cautious as the market remains volatile, with key economic events shaping the outlook for the week ahead.