Market Capitalization of Top 10 Valued Companies Declines by ₹3.12 Lakh Crore, Reliance Leads the Downfall

Indian Market Valuation Plummets by ₹3.12 Lakh Crore

The combined market valuation of the top 10 valued firms in India took a significant hit last week, with Reliance Industries bearing the brunt of the decline. The 30-share BSE Sensex dropped by 2,090.2 points, or 2.7 per cent, while the 50-share NSE Nifty declined 532.65 points, or 2.2 per cent.

The sharp decline in the Indian stock market can be attributed to a combination of factors, including lingering geopolitical tensions in West Asia, persistent weakness in the rupee, and rising inflationary concerns. The sharp rise in crude oil prices above the USD 105-per-barrel mark has intensified worries over imported inflation, fiscal stress, and pressure on corporate margins.

The market valuation of the top 10 firms, as per the current market capitalization (mcap), is as follows:

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Among the top 10 firms, Bharti Airtel emerged as the only winner, with its market valuation jumping by ₹42,470.13 crore to ₹11,60,525.16 crore. In contrast, Reliance Industries' valuation tumbled by ₹1,34,445.77 crore to ₹18,08,420.81 crore, followed by State Bank of India's valuation erosion of ₹52,245.3 crore to ₹8,88,862.32 crore.