Mcap: 5 of top-10 most valued firms lose ₹1 lakh cr; TCS drops most
Market valuation of TCS slumps ₹34,263.28 crore to ₹8,53,506.85 crore
Last week, the combined market valuation of five of the top-10 most valued firms fell by ₹1 lakh crore, with IT giant TCS experiencing the most significant decline, according to market data. The BSE benchmark Sensex fell by 489.92 points (0.62%), while the NSE Nifty dropped by 204.65 points (0.83%) as a result of the downward trend in domestic equities.
Factors contributing to the market decline included high crude oil prices, geopolitical tensions, and mixed global cues impacting investor sentiment. Companies such as Reliance Industries, HDFC Bank, ICICI Bank, State Bank of India, and TCS saw their valuations erode.
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