Top 10 Most-Valued Firms Lose Rs 1.19 Lakh Crore In Market Cap, Led By RIL

The Indian stock market experienced significant losses, as the top 10 most-valued firms collectively lost Rs 1.19 lakh crore in market capitalisation. This decline was largely driven by a general selloff in equities, leading to increased volatility and waning investor confidence.

Market Overview

On January 6, 2025, the NSE Nifty 50 closed down 388.70 points, or 1.62%, settling at 23,616.05. Similarly, the BSE Sensex experienced a drop of 1,258.12 points, or 1.59%, ending at 77,964.99. Throughout the trading day, the Nifty dipped by as much as 1.89%, reaching a low of 23,551.90, while the Sensex fell to 77,781.62, down 1.82%.

Leading Losers

Among the biggest losers, Reliance Industries Ltd. (RIL) suffered the most, with a market cap decrease of Rs 44,859.8 crore, bringing its total market valuation to around Rs 16.5 lakh crore. Following RIL, HDFC Bank faced a loss of Rs 29,596.7 crore, resulting in a market cap of approximately Rs 13.1 lakh crore.

Other Notable Firms

Other companies that contributed to the loss included ITC Ltd., which lost Rs 16,202.7 crore, and State Bank of India, which saw a drop of Rs 15,171.9 crore. Additionally, Hindustan Unilever Ltd. and Bharti Airtel Ltd. were among the firms that experienced declines.

Market Capitalisation Changes

Tata Consultancy Services Ltd. recorded a fall of Rs 1,772.9 crore in its market cap, bringing it down to Rs 14.8 lakh crore. ICICI Bank's market cap decreased by Rs 670.5 crore, resulting in approximately Rs 8.92 lakh crore. Also, Infosys Ltd. saw a reduction of Rs 373.7 crore, bringing its valuation to Rs 8.0 lakh crore.

HCL Technologies Stands Out

In a stark contrast, HCL Technologies Ltd. was the only firm among the top 10 to gain market cap, increasing by Rs 1,736.8 crore for a total market value of Rs 5.3 lakh crore.

Market Sentiment

The decline in stock prices reflected broader market negativity, compounded by rising concerns such as reports of two cases of human metapneumovirus in India, which further soured investor sentiment.

Currency Impact

Additionally, the Indian rupee closed weaker against the US dollar, contributing to the cautious atmosphere in the markets.

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