Top Indian firms shed ₹1.13 trillion in market value as equities retreat

India's equity markets extended their corrective phase last week, with the BSE Sensex declining 276.32 points or 0.35 per cent, while the NSE Nifty fell 76.35 points or 0.31 per cent. The broader retreat weighed heavily on the nation's largest companies, with seven of the top ten most-valued firms collectively losing ₹1.13 lakh crore in market value.

Bharti Airtel and Reliance Industries emerged as the biggest casualties in the weekly sell-off, though other heavyweight constituents including HDFC Bank, Bajaj Finance, Larsen & Toubro and Life Insurance Corporation also registered declines. The market weakness reflected investor caution over multiple headwinds affecting sentiment across the region.

Global interest rate concerns, geopolitical uncertainty and volatility surrounding the new closing auction session mechanism combined to dampen investor confidence. "Indian equity markets ended the week on a cautious note, extending their recent corrective phase as these factors weighed on sentiment," according to market analysts tracking the sell-off.

The broader market showed some resilience on Friday, when strong buying in information technology stocks provided support following positive global technology signals. However, this recovery proved insufficient to offset the week's losses, leaving benchmark indices under pressure for the third consecutive week.