HDFC Bank, ICICI Lead ₹70,000 Crore Value Slide in Top Indian Stocks

Six of India’s ten most-valuable listed companies lost a combined ₹70,325.5 crore (US$8.4 billion) in market capitalisation last week as risk-off sentiment deepened across local equities. The benchmark BSE Sensex fell 626.01 points, or 0.74%, during the period. HDFC Bank saw the steepest erosion, shedding ₹19,284.8 crore to end the week with a valuation of ₹15.25 trillion. ICICI Bank’s market value slipped ₹13,566.92 crore to ₹10.29 trillion, while Bajaj Finance and state-run insurer LIC lost ₹13,236.44 crore and ₹10,246.49 crore, respectively. Among other decliners, Tata Consultancy Services gave up ₹8,032.15 crore and Bharti Airtel fell ₹5,958.7 crore. Not all heavyweights were hit. Reliance Industries added ₹15,359.36 crore, reinforcing its position as the country’s most valuable firm at ₹20.67 trillion. Infosys gained ₹13,127.51 crore, State Bank of India rose ₹5,756.38 crore and Hindustan Unilever advanced ₹7,906.37 crore. Analysts attribute the pullback to foreign portfolio outflows and caution ahead of key US-India trade talks and the start of the June-quarter earnings season, with Tata Consultancy Services due to report on July 10. Market participants expect volatility to persist as investors weigh global macro risks against corporate guidance in the coming weeks.