Top 10 firms lose ₹1 lakh crore in market cap last week; SBI leads fall
Synopsis
Even as the Sensex and Nifty posted weekly gains, four of India's most valuable companies quietly shed over ₹1 lakh crore in combined market cap. SBI alone lost nearly ₹45,000 crore — a reminder that index-level moves can mask significant wealth erosion in individual heavyweights.
Key Takeaways
Four of India's top-10 most valued firms lost a combined ₹1 lakh crore+ in market capitalisation during the week ended 10 May .
SBI was the biggest loser, shedding ₹44,722.34 crore to a valuation of ₹9,41,107.62 crore .
Bharti Airtel and TCS also declined, losing ₹31,167.1 crore and ₹28,456.26 crore respectively.
HDFC Bank led gainers, adding ₹15,425.09 crore to reach ₹12,02,699.26 crore .
The Sensex gained 414.69 points (0.53%) and Nifty50 rose 178.6 points (0.74%) over the same week.
Nifty analysts see resistance at 24,500–24,600 and key support at 23,800 ; a break below could trigger fresh selling.
The combined market capitalisation of four of India's top-10 most valued companies eroded by more than ₹1 lakh crore last week, even as benchmark indices posted modest gains. State Bank of India (SBI) emerged as the biggest laggard, shedding nearly ₹45,000 crore in market value during the week ended 10 May.
Weekly Market Snapshot
The BSE Sensex gained 414.69 points or 0.53% over the week, while the Nifty50 advanced 178.6 points or 0.74%. Despite the headline index gains, the divergence in individual stock performance painted a more nuanced picture, with several heavyweight names bucking the broader trend and registering notable valuation declines.
The Biggest Losers
SBI suffered the steepest erosion, with its market capitalisation falling ₹44,722.34 crore to ₹9,41,107.62 crore. Bharti Airtel was the second-biggest laggard, shedding ₹31,167.1 crore to close the week at a valuation of ₹11,18,055.03 crore.
Tata Consultancy Services (TCS) saw its market cap drop by ₹28,456.26 crore to ₹8,66,477.69 crore, while Larsen & Toubro (L&T) saw a relatively modest decline of ₹5,371.84 crore, bringing its valuation to ₹5,46,621.21 crore. Together, the four companies accounted for a combined erosion of over ₹1 lakh crore.
Gainers in the Top 10
Not all heavyweights were in the red. HDFC Bank led the gainers, adding ₹15,425.09 crore to take its valuation to ₹12,02,699.26 crore, retaining its position as the second most valued firm in the country. Bajaj Finance added ₹11,486.89 crore to reach ₹5,94,610.02 crore.
Hindustan Unilever gained ₹8,763.97 crore to close at ₹5,37,562.98 crore, while Life Insurance Corporation of India (LIC) added ₹2,751.37 crore, taking its market cap to ₹5,07,549.44 crore. ICICI Bank registered a smaller gain of ₹1,694.61 crore, pushing its valuation to ₹9,06,675.39 crore.
Top 10 Valuation Rankings
The rankings among the top-10 most valued firms saw little change. HDFC Bank remained the second most valued company, followed by Bharti Airtel, SBI, ICICI Bank, TCS, Bajaj Finance, L&T, Hindustan Unilever, and LIC.
Technical Outlook for Nifty
Market analysts flagged key levels to watch on the Nifty50. On the upside, resistance is placed at 24,500 and 24,600. According to one analyst, "On the downside, support is seen at 24,000 and 23,800. A breakdown below 23,800 could result in increased selling pressure." With indices trading in a range-bound zone, the coming sessions will be closely watched for a directional breakout.
Point of View
TCS, Bharti Airtel — collectively shed over ₹1 lakh crore in a single week. For SBI in particular, a near-₹45,000 crore erosion amid a broadly positive market raises questions about sector-specific headwinds in public sector banking. The range-bound nature of the indices, combined with this kind of under-the-surface churning, suggests institutional money is rotating rather than accumulating — a pattern that warrants closer scrutiny as the Nifty tests its next resistance band.
NationPress
28 Jun 2026
Frequently Asked Questions
Which companies lost the most market capitalisation last week?
State Bank of India (SBI) was the biggest loser, shedding ₹44,722.34 crore to a valuation of ₹9,41,107.62 crore. Bharti Airtel, TCS, and L&T also declined, with the four together eroding more than ₹1 lakh crore in combined market cap during the week ended 10 May.
Did the overall stock market also fall last week?
No — the broader indices actually gained. The Sensex rose 414.69 points (0.53%) and the Nifty50 advanced 178.6 points (0.74%) over the week, making the individual valuation declines in select heavyweights more notable.
Which top-10 firms gained market capitalisation last week?
HDFC Bank, ICICI Bank, Bajaj Finance, Hindustan Unilever, and LIC all posted gains in valuation. HDFC Bank led with an addition of ₹15,425.09 crore, followed by Bajaj Finance at ₹11,486.89 crore.
What are the key Nifty levels to watch going forward?
Analysts have identified resistance at 24,500 and 24,600 on the upside. On the downside, support is seen at 24,000 and 23,800 — a break below 23,800 could trigger increased selling pressure, according to market experts.
What is the current ranking of India's top most valued companies?
As of the week ended 10 May, HDFC Bank is the second most valued firm, followed by Bharti Airtel, SBI, ICICI Bank, TCS, Bajaj Finance, L&T, Hindustan Unilever, and LIC in that order.
