Indian equities slide as eight of the top ten firms shed ₹1.55 trillion in value
In a week shortened by holidays, the BSE Sensex fell 2.15% and the NSE Nifty dropped 2.36%, with eight of the ten most valuable Indian companies losing a combined ₹1.55 trillion in market capitalisation.
During a holiday-compressed trading week, India's benchmark indices slumped, with the 30-share BSE Sensex losing 1,605.44 points (2.15%) and the 50-share NSE Nifty shedding 546.15 points (2.36%). The decline erased roughly ₹1.55 trillion from the market capitalisation of eight of the ten most valuable listed companies. HDFC Bank led the losses, its valuation dropping ₹55,506.95 crore to just over ₹10.67 lakh crore, and Bajaj Finance followed with a ₹34,180.51 crore reduction.
Reliance Industries, Life Insurance Corporation of India, Bharti Airtel, State Bank of India, Infosys and ICICI Bank also saw sizable cuts. In contrast, Tata Consultancy Services added ₹23,517.56 crore and Larsen & Toubro rose by ₹1,788.66 crore. Across all BSE-listed firms, total market capitalisation fell by ₹20,78,774.28 crore, moving from ₹4,72,62,167.42 crore on October 16 to ₹4,51,83,393.14 crore.
Why it matters
The sharp fall in market value highlights vulnerability in India's leading companies and could affect investor confidence.
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