Business · India Bureau
Top Indian firms lose nearly ₹88,000 crore in market value as equities retreat
Four of India's ten most valuable companies saw their combined market capitalisation erode by ₹87,960 crore last week, with Bharti Airtel recording the steepest losses. The sell-off reflected broader weakness in domestic equity markets amid global headwinds.
LSN India ·
Indian equity benchmarks closed the week on a subdued note, with the BSE Sensex declining 468.42 points, or 0.60 per cent, while the NSE Nifty slipped 114 points, or 0.46 per cent. The weakness reflected a cautious mood among investors grappling with elevated crude oil prices, rising global bond yields, and ongoing geopolitical tensions.
Bharti Airtel bore the brunt of the sell-off among top-10 firms, with its market valuation contracting by ₹28,052.96 crore to ₹12,14,963.15 crore. Tata Consultancy Services followed with a valuation erosion of ₹22,070.34 crore, bringing its market cap to ₹8,31,436.51 crore. State Bank of India also saw significant losses, with its valuation declining by ₹20,861.2 crore to ₹9,64,968.76 crore.
Market analysts attributed the cautious sentiment to a confluence of external and domestic factors. "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," said Ajit Mishra, Senior Vice President of Research at Religare Broking Ltd.