The combined market valuation of eight of the top-10 most-valued firms eroded by Rs 2,81,581.53 crore last week, with the State Bank of India taking the biggest hit, in tandem with a weak trend in equities.

Last week, the BSE benchmark tanked 2,368.29 points, or 2.91 per cent.

“Markets ended the holiday-shortened week with steep losses as escalating geopolitical tensions in West Asia and a sharp spike in crude oil prices weighed heavily on investor sentiment,” Ajit Mishra, SVP, Research, Religare Broking Ltd, said.

From the top-10 pack, Reliance Industries and Infosys were the only gainers.

The market valuation of State Bank of India tumbled Rs 53,952.96 crore to Rs 10,55,567.27 crore.

ICICI Bank‘s valuation eroded by Rs 46,936.82 crore to Rs 9,40,049.82 crore and that of HDFC Bank dived Rs 46,552.3 crore to Rs 13,19,107.08 crore.
The valuation of Larsen & Toubro tanked Rs 45,629.03 crore to Rs 5,43,208.36 crore.The market capitalisation (mcap) of Bajaj Finance dropped by Rs 28,934.56 crore to Rs 5,91,136.03 crore and that of Tata Consultancy Services (TCS) diminished by Rs 28,492.44 crore to Rs 9,25,380.15 crore.

Hindustan Unilever‘s mcap declined by 26,350.67 crore to Rs 5,23,042.51 crore and that of Bharti Airtel edged lower by Rs 4,732.75 crore to Rs 10,67,120.50 crore.

However, the market valuation of Reliance Industries jumped Rs 14,750.39 crore to Rs 19,01,583.05 crore.

The mcap of Infosys climbed Rs 3,459.99 crore to Rs 5,30,546.54 crore.

Reliance Industries remained the most valued domestic firm followed by HDFC Bank, Bharti Airtel, State Bank of India, ICICI Bank, TCS, Bajaj Finance, Larsen & Toubro, Infosys, and Hindustan Unilever.

A federal trade-court judge this week told the Trump administration to begin the process of

returning the approximately $166 billion it collected in tariffs that were voided by the Supreme Court. The order raised hopes of refunds flowing instantly to hundreds of thousands of businesses and people who paid them. But the Trump administration later told the judge that isn’t going to happen and he quickly scaled back his own directive.

Here is what to know about where the legal fight stands and the lengthy process that lies ahead before money hits anyone’s bank account.

Saks Fifth Avenue is shrinking to about half its size as it closes stores in a bid to emerge from bankruptcy. 

Twelve Saks Fifth Avenue stores will be closed by the end of May, its parent company, Saks Global, said on Friday. The disclosure follows an initial review in February in which the company said it would close eight Saks stores.

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The old investing adage, “you get what you deserve, not what you want”, is worth revisiting in the context of today’s volatile market environment. This insight, popularised by investment writer Morgan Housel, in an address to #IndiaInvConf a few years back (whose video is available on YouTube), isn’t just philosophical, it’s practical.

In essence, it reminds investors that markets don’t cater to expectations; they reward discipline and behaviour that withstands uncertainty. Housel is a former columnist at the Motley Fool and the Wall Street Journal.

1. Emotional Investing vs. Market Reality

Indian indices have been sharply impacted by geopolitical tensions in the Middle East. Major indices such as the Nifty and Sensex plunged as risk appetite evaporated and crude prices surged pushing stock prices down and prompting fear-driven selling.This is exactly the kind of environment where behaviour trumps forecast. Investors often want reassurance that markets will be stable and upward-bound, but the market’s behaviour, driven by oil price shocks and geopolitical risk, doesn’t care about those wishes. What matters is whether investors stick to a well-thought plan or panic and sell at the lows.

2. Risk Perception: Personal vs. Market

Housel explains that risk is perceived differently by each investor and this personal bias often leads to poor timing decisions.
In the current environment, risk isn’t just theoretical, rising crude prices, a weakening rupee, and nervous foreign flows (FIIs) are real forces affecting valuations. Investors who desire certainty may sell impulsively during volatility, but successful outcomes come from understanding risk and planning for it.3. Behavioural Discipline Matters More Than Prediction

Predicting where markets go next is nearly impossible, especially in times of geopolitical upheaval like now. Indian markets saw sharp sell-offs driven by fear rather than fundamentals, and many traders were caught off guard by the swift moves.

This underscores Housel’s point: behaviour, not prediction, dictates investing success. Sticking to asset allocation, maintaining a margin of safety, and resisting panic-selling are behaviours that produce lasting returns, even when short-term results disappoint.

4. Long-Term Compounding vs. Short-Term Noise

Another key idea is the power of compounding, returns accrue significantly over time as long as you stay invested.

Amid today’s volatility, where headlines are dominated by crashes and geopolitical risk, it’s tempting to believe that the market has permanently changed. But markets historically recover and reward patient, calm investors over the long term. Getting “what you deserve” means weathering the downturn without abandoning your strategy.

5. The Broader Market Context in March 2026

To understand why behaviour matters now, look at what’s driving sentiment:

Markets are trading sideways to cautious amid geopolitical tensions.
Crude oil concerns are spiking inflation and risk aversion.
External factors like AI-tech sell-offs and foreign selling pressures add to volatility.

These forces create unpredictable price movements, not necessarily based on fundamentals but on emotional and macro drivers.

What You Deserve in Investing Today

In today’s stock market turmoil, markets won’t rise just because investors want them to. They respond to fundamentals, risk, and collective behaviour.

Investors who resist emotional reactions, focus on long-term strategy and manage risk realistically are the ones likely to be rewarded over time.

Those chasing quick gains, timing the market, or reacting to headlines will often get what they want, fear and losses, not what they deserve: long-term compounded returns.

It is invitation only, made of actual platinum and might weigh more than the rest of your wallet. Robinhood Markets HOOD -4.31%decrease; red down pointing triangle is rolling out a premium credit card with a new generation of big spenders in mind.

The new card is part of Robinhood’s effort to transform itself from a trading firm with meme-stock origins into a “financial super-app” that offers all kinds of services, from prediction-market bets to retirement accounts. In short: It is trying to grow alongside its customers, many of whom are now well into their 30s.

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India’s stock market indices Sensex and Nifty tumbled over 1% on Friday after a day’s breather as the conflict in the Middle East entered its seventh day, driving crude oil prices higher.

“Indian equity markets extended their decline following the prior session’s relief rally, as escalating US-Iran tensions disrupted key Middle Eastern oil and gas supplies, driving crude prices higher. A sustained rise in oil prices could weigh on investor sentiment and adversely affect India’s twin deficits, inflation trajectory, and the RBI’s monetary stance,” Vinod Nair, Head of Research, Geojit Investments, said.

Here are two recommendations for Monday:

Data Patterns | Buy: Rs 3,350-3,360 | Stop loss: Rs 3,150 | Target: Rs 3,500

Data Patterns has witnessed a strong breakout above the Rs 3,250 resistance zone, supported by sustained buying momentum. The stock is trading above its key moving averages, indicating a positive trend structure. RSI remains
in bullish territory near 70, suggesting strength. As long as Rs 3,150 holds, the stock may extend gains toward the Rs 3,450–3,500 levels.(Kunal Kamble, Sr Technical Research Analyst, Bonanza Portfolio)

NALCO | Buy: Rs 394–396 | Stop loss: Rs 380 | Target: Rs 425

National Aluminium has formed a classic flag and pole continuation pattern on the weekly chart following a strong prior upmove. The recent breakout from the consolidation phase signals renewed bullish momentum. The stock is trading above key moving averages, while RSI remains in the bullish zone, indicating strength and potential continuation of the prevailing uptrend.

(Kunal Kamble, Sr Technical Research Analyst, Bonanza Portfolio)

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times.)