The combined market valuation of seven of the top-10 most valued firms tumbled by Rs 1.75 lakh crore in a holiday-shortened last week, with Reliance Industries taking the biggest hit, in tandem with a weak trend in equities.
Last week, the BSE benchmark Sensex lost 949.74 points or 1.27 per cent, and the NSE Nifty tanked 294.9 points or 1.27 per cent.
“Markets ended the week on a weaker note, reflecting heightened volatility amid fluctuating global cues and escalating geopolitical tensions in the Middle East. The week was marked by sharp swings, with early losses driven by concerns over energy supply disruptions, a weakening rupee, which touched a record low, and rising volatility,” Ajit Mishra SVP, Research, Religare Broking Ltd, said.
This was followed by a mid-week recovery on hopes of a temporary de-escalation in US-Iran tensions, he noted.
“However, renewed selling pressure on Friday erased the gains, dragging indices lower,” Mishra added.
The market valuation of Reliance ..The combined market valuation of seven of the top-10 most valued firms tumbled by Rs 1.75 lakh crore in a holiday-shortened last week, with Reliance Industries taking the biggest hit, in tandem with a weak trend in equities.
Last week, the BSE benchmark Sensex lost 949.74 points or 1.27 per cent, and the NSE Nifty tanked 294.9 points or 1.27 per cent.
“Markets ended the week on a weaker note, reflecting heightened volatility amid fluctuating global cues and escalating geopolitical tensions in the Middle East. The week was marked by sharp swings, with early losses driven by concerns over energy supply disruptions, a weakening rupee, which touched a record low, and rising volatility,” Ajit Mishra SVP, Research, Religare Broking Ltd, said.
This was followed by a mid-week recovery on hopes of a temporary de-escalation in US-Iran tensions, he noted.
“However, renewed selling pressure on Friday erased the gains, dragging indices lower,” Mishra added.
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