Market cap: 7 of top-10 most-valued firms lose ₹1.13 lakh cr; Airtel, Reliance hit hardest
Bharti Airtel valuation tumbles ₹40,500.85 crore to ₹11,74,462.30 crore; Reliance Industries drops ₹40,056.32 crore to ₹17,38,119.27 crore
A total of ₹1.13 lakh crore was shaved off the market cap of seven of the top-10 most-valued Indian firms last week, primarily driven by bearish sentiment in equities, according to the latest data. Bharti Airtel and Reliance Industries were the hardest hit, with their valuations plummeting by ₹40,500.85 crore and ₹40,056.32 crore respectively.
The broader market showed a cautious trend, with the BSE Sensex falling 276.32 points and the NSE Nifty dropping 76.35 points. Indian equities have been grappling with concerns over global interest rates, geopolitical uncertainties, and the volatility surrounding the new closing auction session. Despite a sharp recovery on Friday, bolstered by strong buying in IT stocks, the benchmark indices remain under pressure for the third consecutive week.
While ICICI Bank, State Bank of India, and TCS emerged as winners, gaining market valuation of ₹4,475.28 crore, ₹599.99 crore, and ₹16,643.2 crore respectively, the valuation of companies like Reliance Industries, Bharti Airtel, HDFC Bank, Bajaj Finance, Larsen & Toubro, Life Insurance Corporation of India (LIC), and Hindustan Unilever saw a decline.
Written by urgent.news from Hindu BusinessLine's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
