Market Turmoil Hits India's Top Firms

In a dramatic week for Indian equities, the combined market capitalization of nine out of the top-10 most valued companies in India plummeted by a staggering Rs 2,94,170.16 crore. This downturn was part of a broader bearish trend in domestic markets, with the BSE Sensex dropping by 2,050.23 points (2.64%) and the NSE Nifty declining by 614.8 points (2.61%).

Who Suffered the Most?

Tata Consultancy Services (TCS) and Reliance Industries were the hardest hit, with their market valuations dropping by Rs 1,10,351.67 crore and Rs 95,132.58 crore, respectively. Other major players like Infosys, Bajaj Finance, ICICI Bank, HDFC Bank, Hindustan Unilever Ltd, State Bank of India, and ITC also saw significant losses.

A Silver Lining

Amidst the widespread losses, Bharti Airtel stood out as the only top-10 company to witness an increase in market value, gaining Rs 7,013.59 crore.

The Big Picture

Despite the downturn, Reliance Industries retained its crown as the most valued company in India, followed by HDFC Bank, TCS, Bharti Airtel, and ICICI Bank.