Top Indian companies suffer a loss of ₹1.40 lakh crore in market capitalization; Tech giants TCS and Infosys hit the hardest, while HDFC Bank and RIL emerge as top gainers.

As India observed Ram Navami, the stock market experienced a significant downturn with a staggering 1,40,478.38 crore rupees evaporating from the combined market capitalization of the country’s top 10 valued firms. This unexpected plunge occurred in a week shortened by the festive holiday, leaving many industry giants reeling from the financial blow.

Among the most heavily impacted were tech titans Tata Consultancy Services (TCS) and Infosys, with TCS witnessing the largest erosion in market valuation of ₹62,538.64 crore, bringing its total to ₹13,84,804.91 crore. Similarly, Infosys saw its valuation plummet from ₹30,488.12 crore to ₹5,85,936.45 crore due to an 8-9 percent decline in constant currency in the quarterly guidance.

The banking and consumer goods sectors also felt the brunt of the market downturn, with ICICI Bank and State Bank of India experiencing significant erosion in their market capitalization. While some companies managed to buck the negative trend, such as Bharti Airtel, HDFC Bank, and Reliance Industries, which saw gains in their valuations.

Overall, the top spot in market capitalization continued to be held by Reliance Industries, with TCS and HDFC Bank following closely behind. The collision of tradition with modern financial realities made for a challenging week in the stock market, leaving investors and industry experts analyzing the impact of these losses on the future of India’s economy.