Top-10 firms lose Rs 1 lakh crore; TCS drops most

Last week, five of the top-10 most valued Indian firms lost Rs 1 lakh crore in combined market capitalisation, with TCS taking the biggest hit. The BSE Sensex fell 489.92 points (0.62%) and the Nifty dropped 204.65 points (0.83%).

Ajit Mishra of Religare Broking attributed the decline to elevated crude prices, geopolitical uncertainty, and mixed global cues. Besides TCS, losers included Reliance Industries (down Rs 31,869 crore), State Bank of India (down Rs 25,892 crore), HDFC Bank (down Rs 7,165 crore), and ICICI Bank (down Rs 2,793 crore). Gainers LIC, Bharti Airtel, Bajaj Finance, Larsen & Toubro, and Hindustan Unilever added Rs 55,149 crore collectively.

Reliance Industries remained the most valued domestic firm, followed by Bharti Airtel, HDFC Bank, ICICI Bank, and State Bank of India.