MCap of four of top-10 most valued firms erodes ₹87,960 crore; Airtel takes biggest hit
Last week, the BSE benchmark Sensex declined 468.42 points, or 0.60%, and the NSE Nifty dipped 114 points, or 0.46%
The combined market capitalizations of the top ten most valuable Indian firms declined by ₹87,960 crore last week, according to a report from Religare Broking Ltd. Bharti Airtel experienced the most significant reduction, with its market cap dropping by ₹28,052.96 crore to ₹12,14,963.15 crore. Other firms that suffered substantial valuation erosion include Tata Consultancy Services (TCS) at ₹22,070.34 crore, State Bank of India at ₹20,861.2 crore, and Hindustan Unilever at ₹16,975.79 crore.
Despite these declines, Life Insurance Corporation of India (LIC) saw a noteworthy increase in its market cap by ₹12,650 crore to ₹5,35,980.31 crore. Reliance Industries and Larsen & Toubro, on the other hand, recorded the largest gains, with their market caps surging by ₹8,119.53 crore and ₹3,487.83 crore, respectively. The week's market performance was marked by a bearish trend in equities, as indicated by the decline in the BSE Sensex (468.42 points or 0.60%) and the NSE Nifty (114 points or 0.46%).
Factors contributing to the cautious sentiment among investors included rising crude oil prices, increasing global bond yields, and persistent geopolitical uncertainties.
Written by urgent.news from Hindu BusinessLine's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
