Mcap of five of top-10 most valued firms erodes by Rs 1 lakh cr; TCS takes biggest hit
· Business · Economic Times, Times of India, LiveMint
Five of India's top-10 most valued firms suffered a combined market valuation erosion of Rs 1 lakh crore last week amid a broader bearish trend in domestic equities. Tata Consultancy Services took the hardest hit, with its market cap dropping by Rs 34,263.28 crore to Rs 8,53,506.85 crore. Reliance Industries saw its valuation decline by Rs 31,869.13 crore to Rs 17,70,056.06 crore, while State Bank of India dropped by Rs 25,891.88 crore to Rs 9,85,829.96 crore. HDFC Bank and ICICI Bank also faced valuation losses during the week. Meanwhile, the BSE Sensex declined 489.92 points and the NSE Nifty dipped 204.65 points due to elevated crude oil prices and renewed geopolitical uncertainty. Conversely, five other firms from the top-10 pack, including Life Insurance Corporation of India and Bharti Airtel, gained a collective Rs 55,149.45 crore in market valuation.
Why it matters
Market volatility and foreign institutional investor selloffs directly impact large-cap stock valuations and investor portfolios across Indian equities.
Read the original report — Economic Times
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