middle-east Last week, there was a huge decline of Rs 4.48 lakh crore in the market cap of the top 10 Sensex companies due to the ongoing devastation in the domestic stock market due to the ongoing tension in India. Last week, the 30-share BSE Sensex fell by 4,354.98 points (5.51 per cent), while the National Stock Exchange’s Nifty also lost 1,299.35 points (5.31 per cent). During this period, State Bank of India (SBI) and HDFC Bank suffered the most losses. Rising crude oil prices have stoked inflationary pressures and concerns about global economic stability, hitting local stock markets amid escalating conflict in Middle East Asia.
SBI’s market cap fell the most by Rs 89,306.22 crore.
Last week, the market cap of SBI declined the most by Rs 89,306.22 crore to Rs 9,66,261.05 crore. The market cap of HDFC Bank declined by Rs 61,715.32 crore to reach Rs 12,57,391.76 crore. The valuation of Bajaj Finance declined by Rs 59,082.49 crore to Rs 5,32,053.54 crore and the market cap of Tata Consultancy Services (TCS) declined by Rs 53,312.52 crore to Rs 8,72,067.63 crore. ICICI Bank’s market cap fell to Rs 8,97,844.78 crore with a loss of Rs 42,205.04 crore.
Huge loss to valuations of Bharti Airtel, Reliance, LIC, Infosys
Bharti Airtel’s market cap declined by Rs 38,688.78 crore to reach Rs 10,28,431.72 crore. The valuation of Reliance Industries declined by Rs 33,289.88 crore and reached Rs 18,68,293.17 crore. The market cap of Life Insurance Corporation of India (LIC) declined by Rs 31,245.49 crore to reach Rs 4,88,985.57 crore. Infosys’ market cap declined by Rs 24,230.96 crore to Rs 5,06,315.58 crore. The market cap of Hindustan Unilever fell by Rs 15,401.57 crore to reach Rs 5,07,640.94 crore.
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