Weekly Market rout: HDFC, HUL, TCS Lose Billions in Value
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A volatile week on Dalal Street saw India’s premier companies grapple with hefty market cap losses, even as indices barely budged. HDFC Bank led the decline with a ₹56,124 crore evaporation, landing at ₹12.01 lakh crore. The top 10 lost over ₹1 lakh crore combined from March 16-20.
HUL plummeted ₹18,010 crore to ₹4.90 lakh crore, TCS fell ₹7,128 crore to ₹8.65 lakh crore, Bajaj Finance dropped ₹15,338 crore to ₹5.17 lakh crore, and ICICI Bank lost ₹6,172 crore, closing at ₹8.92 lakh crore. The quintet’s total hit: ₹1,02,772 crore.
Early-week optimism crumbled under Thursday’s heavy selling, with Friday’s session adding to the whipsaw, per Religare Broking’s Ajit Mishra, who flagged the pervasive negative sentiment.
Winners defied the gloom: Bharti Airtel vaulted ₹24,462 crore higher to ₹10.53 lakh crore, SBI advanced ₹10,708 crore to ₹9.77 lakh crore, while Infosys and LIC notched marginal rises to ₹5.09 lakh crore and ₹4.92 lakh crore.
The week’s bifurcation reveals investor rotation towards stable yield plays. As benchmarks stabilize, focus intensifies on Fed signals, rupee trends, and Q4 earnings, shaping the path ahead for these market behemoths.
