SBI Faces Major Blow: Market Cap Plummets by ₹89,306 Crore in One Week

The Indian stock market witnessed a massive bloodbath last week, wiping out a staggering ₹4.48 lakh crore from the combined market valuation of the country's top-10 most valued firms. State-owned banking giant, SBI, emerged as the worst hit, with its market capitalization (m-cap) plummeting by ₹89,306.22 crore to ₹9,66,261.05 crore.

This sharp decline was triggered by escalating tensions in West Asia, surging crude oil prices, and growing inflation concerns, which led to a widespread sell-off across all sectors. During this period, the BSE Sensex crashed by 4,354 points and the Nifty dropped by 1,299 points. Following SBI, HDFC Bank saw a value erosion of ₹61,715 crore, while Bajaj Finance, TCS, and ICICI Bank also recorded significant losses. Other major players like Bharti Airtel, LIC, and Infosys faced similar heat; however, Reliance Industries managed to retain its position as India’s most valued company despite a loss of ₹33,289 crore.