Mumbai, India — February 15, 2026
A sharp downturn in India’s equity markets last week significantly impacted the country’s largest corporations, with six of the top ten most valuable companies collectively losing more than ₹3 lakh crore in market capitalization. The steepest declines were recorded in the information technology sector, particularly by Tata Consultancy Services and Infosys, reflecting pressure on tech stocks amid global uncertainty.
Market Weakness Hits Large-Cap Giants
The benchmark BSE Sensex dropped 953.64 points, or about 1.14%, over the week, dragging down valuations of several blue-chip companies. The largest losses included:
TCS: Market value fell about ₹90,199 crore, bringing total valuation to roughly ₹9.74 lakh crore.
Infosys: Lost around ₹70,780 crore, reducing its market cap to about ₹5.55 lakh crore.
HDFC Bank: Declined by nearly ₹54,628 crore.
Reliance Industries: Market value dropped about ₹41,883 crore.
Life Insurance Corporation of India: Fell by roughly ₹23,972 crore.
Bharti Airtel: Declined by around ₹19,245 crore.
Analysts say the losses reflect a combination of global market weakness, pressure on IT stocks, and cautious investor sentiment.
Companies That Defied the Downturn
Despite the broader decline, some major firms posted gains:
State Bank of India: Jumped by about ₹1.22 lakh crore.
Bajaj Finance: Added ₹26,414 crore.
Larsen & Toubro: Rose by ₹14,484 crore.
ICICI Bank: Gained about ₹5,720 crore.
These gains helped cushion the broader impact but were insufficient to offset losses across the large-cap segment.
Top 10 Most Valuable Companies — Latest Ranking
By market capitalization, India’s top companies currently rank as:
Reliance Industries
HDFC Bank
Bharti Airtel
State Bank of India
ICICI Bank
TCS
Bajaj Finance
Larsen & Toubro
Infosys
LIC
What Triggered the Decline?
Market experts attribute last week’s drop to multiple factors:
Weak global market cues
Pressure on IT stocks
Investor caution amid economic uncertainty
Valuation concerns in large-cap stocks
They note that while short-term volatility is likely to continue, long-term trends will depend on global economic stability, interest rate outlook, and earnings performance.
