Top Firms Lose ₹1.25 Trillion in Market Value, Reliance Industries Hit Hardest
Mcap of 7 most valued firms erodes by ₹1.25 trn, Reliance takes biggest hit
Business Standard
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Last week, the combined market capitalization of seven major firms fell by ₹1.25 trillion, with Reliance Industries experiencing the largest decline. The BSE Sensex and NSE Nifty also dropped, reflecting bearish market sentiment amid foreign institutional investor selling and concerns over monsoon progress.
- 01Reliance Industries' market value decreased by ₹39,718 crore, bringing its total to ₹17,47,321.40 crore.
- 02Tata Consultancy Services lost ₹20,134.66 crore, reducing its market valuation to ₹7,95,346.09 crore.
- 03Bharti Airtel's valuation fell by ₹18,736.04 crore, now at ₹10,96,150.49 crore.
- 04Bajaj Finance saw a decrease of ₹9,681.36 crore, totaling ₹5,53,580.97 crore.
- 05In contrast, State Bank of India gained ₹12,692.09 crore, increasing its market cap to ₹9,02,523.63 crore.
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The combined market capitalization of seven of the top ten most-valued firms in India dropped by ₹1.25 trillion last week, driven by a bearish trend in the equity markets. Reliance Industries suffered the largest loss, with its valuation decreasing by ₹39,718 crore to ₹17,47,321.40 crore. Other firms like Tata Consultancy Services (TCS) and Bharti Airtel also faced significant declines, losing ₹20,134.66 crore and ₹18,736.04 crore, respectively. The BSE benchmark Sensex fell by 532.4 points, or 0.71%, while the NSE Nifty dipped by 181.05 points, or 0.76%. Market sentiment was negatively affected by persistent selling from foreign institutional investors, despite some positive factors such as falling crude oil prices and a recovering rupee. On a positive note, State Bank of India, ICICI Bank, and HDFC Bank reported gains in their market valuations, indicating a mixed performance among the top firms.
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The decline in market capitalization reflects a broader bearish trend affecting investor confidence, particularly impacting retail investors and market participants.
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