Four of India's top-10 most valued firms lost a combined ₹87,960.29 crore in market capitalisation last week, with Bharti Airtel taking the biggest hit. The Sensex declined 0.60% and the Nifty dipped 0.46% over the week, while six other top-10 firms added value.
The combined market valuation of four of India's top-10 most valued companies eroded by ₹87,960.29 crore last week, in tandem with a bearish trend in equities. Bharti Airtel took the biggest hit among the ten firms.
BSE benchmark Sensex declined 468.42 points, or 0.60%, and the NSE Nifty dipped 114 points, or 0.46%, over the week. According to Ajit Mishra, SVP of Research at Religare Broking Ltd: "rising global bond yields and persistent geopolitical uncertainty weighed on investor sentiment".
Bharti Airtel's valuation dropped ₹28,052.96 crore to ₹12,14,963.15 crore, the largest decline among the top-10 firms. Tata Consultancy Services faced an erosion of ₹22,070.34 crore, taking its valuation to ₹8,31,436.51 crore.
The market capitalisation of the State Bank of India declined ₹20,861.2 crore to ₹9,64,968.76 crore, and that of Hindustan Unilever fell ₹16,975.79 crore to ₹4,73,912.56 crore.
However, six firms in the top-10 gained ground. Life Insurance Corporation of India's valuation jumped ₹12,650 crore to ₹5,35,980.31 crore, while Reliance Industries surged ₹8,119.53 crore to ₹17,78,175.59 crore. Larsen & Toubro climbed ₹3,487.83 crore, Bajaj Finance edged higher by ₹3,424.28 crore, ICICI Bank added ₹752.47 crore, and HDFC Bank went up ₹356.95 crore.
By market capitalisation, Reliance Industries remained the most valued firm, followed by Bharti Airtel, HDFC Bank, ICICI Bank, State Bank of India, TCS, Bajaj Finance, Larsen & Toubro, LIC and Hindustan Unilever.
Source: The Hindu
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