The combined market capitalization of nine of India's ten most valuable companies fell by ₹2.74 lakh crore last week, marking a sharp reversal in sentiment for the country's blue-chip equities.
HDFC Bank recorded the largest single decline, anchoring the broader sell-off that swept through the benchmark indices.
The erosion in value reflects intensifying pressure on the private banking sector.
Shares of India’s largest private lenders, including HDFC Bank, Axis Bank, and Kotak Mahindra Bank, have extended their decline, leading a broad-based selloff across the financials segment.
This week’s losses stand in stark contrast to recent performance, where HDFC Bank and Bharti Airtel had previously driven a combined market capitalization increase of ₹92,995.48 crore across four of the top-10 firms.
The shift underscores the volatility facing India's market leaders as earnings disappointments and broader market conditions weigh on investor confidence.