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Market Plunge: Top Firms Lose ₹1.54 Lakh Crore
1 Jun
Summary
- Seven of ten top companies lost Rs 1.54 lakh crore valuation last week.
- Reliance Industries saw the steepest fall, losing Rs 46,078.3 crore.
- BSE Sensex and NSE Nifty experienced declines during the week.
Seven of India's ten most valuable companies collectively shed Rs 1.54 lakh crore in market capitalization during the recent holiday-shortened trading week. This significant erosion was primarily driven by weak investor sentiment and a general selloff in equities, which heavily impacted major stocks.
Reliance Industries experienced the most substantial drop, with its valuation diminishing by Rs 46,078.3 crore. HDFC Bank followed, losing Rs 33,333.06 crore. Other major companies like Bharti Airtel and Tata Consultancy Services also saw considerable declines in their market cap.
The overall market performance reflected this pressure, with the BSE Sensex decreasing by 0.84% and the NSE Nifty by 0.72%. Despite the widespread losses, State Bank of India, Larsen & Toubro, and Life Insurance Corporation of India managed to record gains in their valuations.
