3 days ago
Seven Top Indian Firms Lose ₹1.13 Lakh Crore
Seven of India’s biggest companies became worth less on the stock market last week.
Together, they lost about ₹1.13 lakh crore in market value.
Bharti Airtel and Reliance Industries lost the most, at roughly ₹40,000 crore each.
HDFC Bank, Bajaj Finance, Larsen & Toubro, Life Insurance Corporation of India and Hindustan Unilever also declined.
Three companies gained value: Tata Consultancy Services, ICICI Bank and State Bank of India.
Tata Consultancy Services gained the most among them.
The Sensex and Nifty, which track major shares, also fell.
Investors were cautious because of interest-rate concerns, geopolitical uncertainty and volatility linked to a new closing auction session.
Seven of India’s 10 most-valued companies lost a combined ₹1.13 lakh crore in market capitalisation last week.
Bharti Airtel and Reliance Industries recorded the largest declines, losing ₹40,500.85 crore and ₹40,056.32 crore respectively.
The BSE Sensex fell 276.32 points, or 0.35 per cent, while the NSE Nifty declined 76.35 points, or 0.31 per cent.
Tata Consultancy Services led the three gainers, adding ₹16,643.20 crore in market value, followed by ICICI Bank and State Bank of India.
Reliance Industries remained India’s most-valued company, followed by Bharti Airtel, HDFC Bank, ICICI Bank, State Bank of India and Tata Consultancy Services.
- Who
- Seven of India’s 10 most-valued companies, including Bharti Airtel, Reliance Industries and HDFC Bank.
- What
- Their combined market capitalisation fell by around ₹1.13 lakh crore, while three other top companies gained value.
- Where
- India’s equity market.
- When
- Last week.
- Why
- Concerns about global interest rates, geopolitical uncertainty and volatility surrounding a new closing auction session weighed on investor sentiment.
Cautious Market View
Recovery View
Short-term market direction
Cautious Market View
Markets remained in a corrective phase and under pressure for a third consecutive week because of global interest-rate concerns, geopolitical uncertainty and closing-auction volatility.
Recovery View
Markets recovered sharply on Friday as investors bought information-technology stocks following positive global technology cues.
Key Sensex levels
Cautious Market View
A decisive break below the 77,000 support level could lead to renewed selling pressure, with the 76,700–76,500 region identified as another downside area.
Recovery View
A sustained breakout above 78,000 could strengthen the recovery and move the Sensex toward 78,500–78,800; holding above 77,000 would preserve the broader recovery structure.
Key facts
- Combined decline
- Around ₹1.13 lakh crore across seven of the 10 most-valued companies
- Biggest loser
- Bharti Airtel, down ₹40,500.85 crore to ₹11,74,462.30 crore
- Second-biggest loser
- Reliance Industries, down ₹40,056.32 crore to ₹17,38,119.27 crore
- Sensex
- Down 276.32 points, or 0.35 per cent
- Nifty
- Down 76.35 points, or 0.31 per cent
- Top gainer
- Tata Consultancy Services, up ₹16,643.20 crore to ₹8,48,079.71 crore
- Most-valued company
- Reliance Industries, at ₹17,38,119.27 crore
Quotes
Ajit Mishra
Senior vice president of research at Religare Broking Ltd.
“On the downside, 77,000 remains the crucial psychological support, followed by the 76,700–76,500 region. Holding above 77,000 will be important to preserve the broader recovery structure, while a decisive break below this level could invite renewed selling pressure,”
thehansindia.com
“Indian equity markets ended the week on a cautious note, extending their recent corrective phase as concerns over global interest rates, geopolitical uncertainty and volatility surrounding the new closing auction session weighed on investor sentiment”
thehansindia.com
Sources
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