The combined market valuation of nine of the top 10 valued firms eroded by Rs 3.12 lakh crore last week, with Reliance Industries taking the biggest hit.
Last week, the 30-share BSE Sensex plunged 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.
“Markets ended the week lower, breaking out of their three-week consolidation phase amid lingering geopolitical tensions in West Asia, persistent weakness in the rupee, and rising inflationary concerns,” Ajit Mishra SVP, Research, Religare Broking Ltd, said.
The sharp rise in crude oil prices above the USD 105-per-barrel mark intensified worries over imported inflation, fiscal stress, and pressure on corporate margins, he said.
From the top-10 pack, Bharti Airtel emerged as the only winner.
The market valuation of Reliance Industries tumbled Rs 1,34,445.77 crore to Rs 18,08,420.81 crore.
State Bank of India’s valuation eroded by Rs 52,245.3 crore to Rs 8,88,862.32 crore.
The valuaThe combined market valuation of nine of the top 10 valued firms eroded by Rs 3.12 lakh crore last week, with Reliance Industries taking the biggest hit.
Last week, the 30-share BSE Sensex plunged 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.
“Markets ended the week lower, breaking out of their three-week consolidation phase amid lingering geopolitical tensions in West Asia, persistent weakness in the rupee, and rising inflationary concerns,” Ajit Mishra SVP, Research, Religare Broking Ltd, said.
The sharp rise in crude oil prices above the USD 105-per-barrel mark intensified worries over imported inflation, fiscal stress, and pressure on corporate margins, he said.
From the top-10 pack, Bharti Airtel emerged as the only winner.
The market valuation of Reliance Industries tumbled Rs 1,34,445.77 crore to Rs 18,08,420.81 crore.
State Bank of India’s valuation eroded by Rs 52,245.3 crore to Rs 8,88,862.32 crore.
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