Mcap of 8 of top-10 firms erodes by Rs 1.55 lakh cr; HDFC Bank, Bajaj Fin biggest laggards
BSE moved lower.
· Economic Times Markets
Recently, the market witnessed a downturn, with eight of the leading firms in India suffering major valuation losses. The declines of HDFC Bank and Bajaj Finance were particularly striking. The BSE Sensex plummeted by 1,605.44 points, indicating a bearish atmosphere across equities. While Tata Consultancy Services and Larsen & Toubro showed some gains, the overall trend remained negative.
The analysis
BSE reported Rs 1.55 lakh. Those are the figures as filed — what moves the price is how they sit against what the market already expected, not their absolute size.
Against that, the stock is -0.2% on the day at ₹692.80, and has returned -7.8% over three months. It sits 31% below its 52-week high, which means a good deal of bad news was already in the price. The banks sector has moved -4.2% over the same period, so HDFC Bank is running 3.6 points behind its peers.
With HDFC Bank, Bajaj Finance and Tata Consultancy all implicated, this reads as a Banks-level move rather than a company-specific one, which is the more durable kind of signal.
Why it matters
- With BSE involved, this carries a regulatory dimension that can outlast the immediate market reaction.
Market context
- It touches several names at once (HDFCBANK, BAJFINANCE, TCS, LT), which points to a sector-level rather than company-specific driver.
- Sector exposure: Banks, Financial Services, IT.
- The immediate tone of coverage reads negative.
In this story
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