TCS, Bharti Airtel rank most as eight of India's top 10 firms lose Rs 1.65 lakh crore in market value
Tata Consultancy Services (TCS) suffered the biggest loss in market capitalisation as the combined valuation of eight of India's ten most valuable companies fell by Rs 1,65,784.9 crore last week
- NEW DELHI — Tata Consultancy Services (TCS) suffered the biggest loss in
market capitalisation as the combined valuation of eight of India's ten most
valuable companies fell by Rs 1,65,784.9 crore last week, aligning with the
bearish trends in equities.
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- The BSE benchmark index dropped by 628.15 points, or 0.82
per cent, while the Nifty fell by 133.35 points, or 0.58 per cent during the
week amid the weak global cues and tariff war concerns.
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- TCS saw its market valuation decline by Rs 53,185.89 crore
as its total value went down to Rs 13.7 lakh crore.
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- Bharti Airtel also witnessed a significant drop, with its
market capitalisation falling by Rs 44,407.77 crore to Rs 9.3 lakh crore.
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- ICICI Bank’s valuation shrank by Rs 18,235.45 crore to Rs
8.7 lakh crore, while Hindustan Unilever lost Rs 17,962.62 crore, bringing its
market cap down to Rs 5.2 lakh crore.
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- Infosys also faced a decline, with its valuation reducing by
Rs 17,086.61 crore to Rs 7.5 lakh crore.
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- ITC’s market capitalisation dropped by Rs 11,949.42 crore to
Rs 5 lakh crore, and HDFC Bank saw an erosion of Rs 2,555.53 crore, taking its
valuation down to Rs 12.9 lakh crore.
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- The State Bank of India (SBI) also recorded a minor decline
of Rs 401.61 crore, with its valuation standing at Rs 6.4 lakh crore.
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- The Indian stock markets are expected to remain volatile in
the near time, as per reports.
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- In the upcoming week, investors will keep an eye on key
economic data, including the US Core PCE Price Index and India’s GDP figures,
for further direction.
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- "On the daily chart, the index has formed an indecision
candle at the support zone, highlighting uncertainty in the broader
trend," Dhupesh Dhameja from SAMCO Securities said.
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