Top-10 Firms Lose ₹1 Lakh Crore In Market Value, TCS Takes Biggest Hit As Sensex And Nifty Fall
New Delhi: The combined market value of five of India’s top-10 most valued companies fell by around Rs 1 lakh crore last week, as weakness in domestic stock markets hurt some of the country’s biggest firms. Tata Consultancy Services (TCS) suffered the largest fall in market capitalisation, followed by Reliance Industries and State Bank of India (SBI). Markets End Lower During the week, the BSE…
In the past week, the market values of five of India's top-10 most valued companies plummeted by approximately Rs 1 lakh crore due to a downturn in the domestic stock markets. Tata Consultancy Services (TCS) experienced the steepest decline in market capitalization, followed by Reliance Industries and State Bank of India (SBI). The BSE Sensex dropped 489.92 points, or 0.62 percent, while the NSE Nifty decreased 204.65 points, or 0.83 percent.
Ajit Mishra, SVP, Research at Religare Broking Ltd, attributed the market slump to higher crude oil prices, increasing geopolitical uncertainty, and mixed signals from abroad, which dampened investor sentiment. The five companies with the most significant valuation declines were Reliance Industries, HDFC Bank, ICICI Bank, SBI, and TCS.
TCS lost Rs 34,263.28 crore in market capitalization, bringing its total valuation to Rs 8,53,506.85 crore. Reliance Industries suffered a loss of Rs 31,869.13 crore, reducing its market value to Rs 17,70,056.06 crore. SBI's valuation fell by Rs 25,891.88 crore, settling at Rs 9,85,829.96 crore. HDFC Bank's market value decreased by Rs 7,165.37 crore, bringing its valuation to Rs 11,20,802.10 crore. ICICI Bank's market value dropped by Rs 2,792.65 crore, resulting in a valuation of Rs 10,17,577.98 crore.
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