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Market wrap: Bears hit top 10 firms’ worth by Rs 70,325 crore; HDFC Bank, ICICI Bank among worst losers

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Six of India’s ten most valued companies collectively lost Rs 70,325.5 crore in market valuation last week, led by HDFC Bank and ICICI Bank, as domestic equities slipped amid global uncertainty and investor caution.The BSE Sensex dropped by 626.01 points or 0.74 per cent during the week, weighed down by sustained foreign portfolio investor (FPI) outflows and anticipation surrounding the July 9 deadline for US tariff talks. Barring Friday’s modest rebound, the Indian markets largely stayed in the red, mirroring a consolidation trend.As per news agency PTI, among the top losers was HDFC Bank, as its market capitalisation fell the most, declining by Rs 19,284.8 crore to Rs 15,25,339.72 crore. CICI Bank followed with a loss of Rs 13,566.92 crore, taking its valuation down to Rs 10,29,470.57 crore.Bajaj Finance also faced a significant erosion of Rs 13,236.44 crore, with its market cap standing at Rs 5,74,977.11 crore.Life Insurance Corporation of India (LIC) shed Rs 10,246.49 crore in value, ending the week at Rs 5,95,277.16 crore, while TCS lost Rs 8,032.15 crore, taking its valuation to Rs 12,37,729.65 crore. Bharti Airtel’s market cap declined by Rs 5,958.7 crore to Rs 11,50,371.24 crore.In contrast, four companies in the top-10 bracket witnessed gains. Reliance Industries remained India’s most valued company with a Rs 15,359.36 crore jump, pushing its market cap to Rs 20,66,949.87 crore. Infosys added Rs 13,127.51 crore to reach Rs 6,81,383.80 crore, while Hindustan Unilever and State Bank of India gained Rs 7,906.37 crore and Rs 5,756.38 crore, respectively.Indian markets saw a brief relief rally on Friday, with the Sensex closing 193.42 points higher at 83,432.89 and Nifty adding 55.70 points to settle at 25,461. However, the week’s overall performance remained weak, with a cumulative decline of 0.4–0.7 per cent across benchmark indices.Market sentiment was tempered by “a wait-and-watch strategy” adopted by investors amid global cues and tariff-related uncertainty, said Vinod Nair, head of research at Geojit Financial Services. “Ongoing FII outflows reflect a risk-off approach, while DII inflows are offering partial support,” he said, as quoted by news agency ANI.Sectorally, FMCG, IT, pharma, PSU banks, and oil & gas led the gains, while auto and metal stocks underperformed. Analysts observed that investors were focused on specific stocks within mid- and small-cap segments, awaiting clarity on US-India trade dynamics.In terms of rankings, Reliance retained its top spot, followed by HDFC Bank, TCS, Bharti Airtel, ICICI Bank, SBI, Infosys, LIC, Bajaj Finance and Hindustan Unilever.

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