Mcap of four of top-10 most valued firms erodes ₹87,960 crore; Airtel takes biggest hit
Four of India's top ten most valued companies saw a combined market capitalization loss of over ₹87,960 crore last week. Bharti Airtel experienced the largest decline, while Reliance Industries and several banking firms saw gains amid a generally bearish market trend.
Why it matters
This data reflects broader investor sentiment and the volatility of the Indian equity market influenced by global economic factors like crude oil prices and bond yields.
The combined market valuation of four of the top-10 most valued firms eroded by ₹87,960.29 crore last week, with Bharti Airtel taking the biggest hit, in-tandem with a bearish trend in equities.
Last week, the BSE benchmark Sensex declined 468.42 points, or 0.60%, and the NSE Nifty dipped 114 points, or 0.46%.
"Indian equity markets ended the week on a cautious note, extending their recent corrective phase as elevated crude oil prices, rising global bond yields and persistent geopolitical uncertainty weighed on investor sentiment," Ajit Mishra – SVP, Research, Religare Broking Ltd, said.
The valuation of Bharti Airtel dropped ₹28,052.96 crore to ₹12,14,963.15 crore, the most among the top-10 firms.
Tata Consultancy Services (TCS) faced an erosion of ₹22,070.34 crore from its valuation, which stood at ₹8,31,436.51 crore.
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