Indian stock markets end the week lower, and the combined market valuation of the top 10 most valued companies declines by Rs 3.12 lakh crore. According to market reports, Reliance Industries records the largest loss among the group, while Bharti Airtel is the only company that gains. The decline comes as the BSE Sensex falls by 2,090.2 points (about 2.7%) and the NSE Nifty drops by 532.65 points (about 2.2%). Analysts attribute the sell-off to lingering geopolitical tensions in West Asia, persistent weakness in the rupee, and concerns about rising inflation. They also point to crude oil prices moving above USD 105 per barrel, which increases worries about imported inflation and potential pressure on corporate margins. Specific valuation changes cited include Reliance Industries, whose market capitalisation falls by about Rs 1.34 lakh crore, and State Bank of India, whose valuation declines by about Rs 52,245 crore. Overall, the sources describe a broad valuation erosion across large-cap companies during the week.
Top 10 Indian firms lose Rs 3.12 lakh crore in market cap as markets fall
Indian stock markets end the week lower, and the combined market valuation of the top 10 most valued companies declines by Rs 3.12 lakh crore. According to market reports, Reliance Industries records...
- Combined market capitalisation of the top 10 most valued Indian firms drops by about Rs 3.12 lakh crore.
- Reliance Industries records the steepest fall in valuation among the top 10.
- Bharti Airtel is the only gainer among the top 10 firms during the period.
- BSE Sensex declines by 2,090.2 points (about 2.7%) and NSE Nifty by 532.65 points (about 2.2%).
- Reported drivers include West Asia geopolitical tensions, rupee weakness, rising inflation concerns, and crude oil prices above USD 105 per barrel.
Indian markets experienced a significant downturn last week, with the top 10 most valued firms losing Rs 3.12 lakh crore. Geopolitical tensions, a weakening rupee, and rising inflation, exacerbated by surging crude oil prices, drove the decline. Reliance Industries saw the steepest fall, while Bharti Airtel was the sole gainer among the giants.
3 months agoThe combined market valuation of nine of the top 10 valued firms eroded by Rs 3.12 lakh crore last week, with Reliance Industries taking the biggest hit. Last week, the 30-share BSE Sensex plunged by 2,090.2 points, or 2.7 per cent, while the 50-share NSE Nifty declined 532.65 points, or 2.2 per cent. "Markets ended the week lower, breaking out of their three-week consolidation phase amid lingering geopolitical tensions in West Asia, persistent weakness in the rupee, and rising inflationary concerns," Ajit Mishra SVP, Research, Religare Broking Ltd, said. The sharp rise in crude oil prices above the USD 105-per-barrel mark intensified worries over imported inflation, fiscal stress, and pressure on corporate margins, he said. From the top-10 pack, Bharti Airtel emerged as the only winner. The market valuation of Reliance Industries tumbled Rs 1,34,445.77 crore to Rs 18,08,420.81 crore. State Bank of India's valuation eroded by Rs 52,245.3 crore to Rs 8,88,862.32 crore. The valua
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