The combined market valuation of four of the top-10 most valued firms eroded by Rs 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 per cent, and the NSE Nifty dipped 114 points, or 0.46 per cent.
“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 Rs 28,052.96 crore to Rs 12,14,963.15 crore, the most among the top-10 firms.
Tata Consultancy Services (TCS) faced an erosion of Rs 22,070.34 crore from its valuation, which stood at Rs 8,31,436.51 crore.
The market capitalisation (mcap) of the State Bank of India declined Rs 20,861.2 crore to Rs 9,64,968.76 crore and that of Hindustan Unile
Read more at the source
Disclaimer: The content of this post is sourced from external sites and is for informational purposes only. All rights and credits belong to the original authors and publishers.