Mumbai: The combined market capitalisation of seven of India’s top-10 most valued companies fell sharply by Rs 1.75 lakh crore last week as global uncertainties and geopolitical tensions rattled investors.

The decline occurred during a holiday-shortened trading week, with benchmark indices closing lower. The BSE Sensex dropped 949.74 points (1.27%), while the Nifty 50 fell 294.9 points (1.27%), reflecting high market volatility.

Nifty outlook and technical levels

Market analysts noted that a decisive breakdown below the 22,700–22,500 range could intensify selling pressure, potentially dragging the Nifty towards the 22,000–21,744 zone, near its 52-week low.

“On the upside, 23,000–23,100 now acts as immediate resistance, with a stronger supply zone in the 23,300–23,500 range,” an expert said.

The week was influenced by fluctuating global cues and escalating tensions in West Asia, which contributed to volatility in Indian equities.

Sectoral and company-wise losses

According to Ajit Mishra of Religare Broking, early losses were driven by concerns over energy supply disruptions, a weakening Indian rupee, and overall market volatility.

“Although there was a mid-week recovery on hopes of easing US-Iran tensions, fresh selling on Friday erased gains and pulled indices lower,” he added.

Among the largest decliners, Reliance Industries saw its market value drop by Rs 89,720.3 crore, bringing its valuation to Rs 18.24 lakh crore. HDFC Bank fell Rs 37,248.59 crore, while State Bank of India lost Rs 35,399.42 crore. ICICI Bank’s market cap declined by Rs 8,121.76 crore.

Other major companies witnessing losses included Bharti Airtel, Hindustan Unilever, and Tata Consultancy Services, reflecting broader pressure on India’s blue-chip stocks.

Winners amid the slide

Not all companies were affected. Larsen & Toubro emerged as the biggest gainer, adding Rs 18,051.68 crore to its market capitalisation. Bajaj Finance and Infosys also recorded modest gains during the week.

Despite the decline, Reliance Industries remains the most valued company in India, followed by HDFC Bank, Bharti Airtel, State Bank of India, ICICI Bank, and Tata Consultancy Services.

Market implications

Experts suggest that the latest dip highlights the sensitivity of Indian stock markets to global geopolitical tensions, currency fluctuations, and energy market concerns. Investors are advised to monitor blue-chip equities, sectoral trends, and technical levels closely as the market navigates heightened volatility.

IANS