Mumbai: Last week, HDFC Bank experienced a significant decline, losing over Rs 56,000 crore in market valuation, making it the largest loser among India's top companies, even as the overall stock market remained relatively stable with a slight downward trend.

The Indian equity market had a cautious week, with the top ten most-valued companies collectively losing more than Rs 1 lakh crore in market capitalization.

HDFC Bank's valuation fell sharply by Rs 56,124.48 crore, bringing its total to Rs 12,01,267.28 crore.

The broader market sentiment was subdued, with the BSE Sensex dropping by 30.96 points, or 0.04%, and the NSE Nifty decreasing by 36.6 points, or 0.15%, throughout the week.

Ajit Mishra, Senior Vice President of Research at Religare Broking Ltd, commented that the market concluded the week on a flat note with a negative undertone.

He observed that while the initial three trading sessions showed promise, a sharp decline on Thursday erased those gains, leading to a volatile final trading day.

In addition to HDFC Bank, other notable companies that faced declines included Hindustan Unilever, Bajaj Finance, Tata Consultancy Services (TCS), and ICICI Bank.

Hindustan Unilever's market valuation decreased by Rs 18,009.62 crore to Rs 4,89,631.32 crore, while Bajaj Finance saw a loss of Rs 15,338.42 crore, bringing its valuation to Rs 5,16,715.12 crore.

TCS's valuation fell by Rs 7,127.63 crore to Rs 8,64,940 crore, and ICICI Bank's market cap dipped by Rs 6,171.72 crore to Rs 8,91,673.06 crore.

In total, these five companies experienced a combined market value erosion of Rs 1,02,771.87 crore.

Conversely, some major firms managed to achieve gains despite the overall weak market trend. Bharti Airtel saw a notable increase of Rs 24,462.03 crore, raising its market capitalization to Rs 10,52,893.75 crore.

State Bank of India added Rs 10,707.52 crore, reaching a valuation of Rs 9,76,968.57 crore. Infosys and Life Insurance Corporation of India (LIC) also recorded modest gains, with their market capitalizations climbing to Rs 5,08,789.37 crore and Rs 4,91,610.45 crore, respectively.