Rs 4.95 L-cr Mcap Erosion At Top-10 Firms

New Delhi: The combined market valuation of all the top-10 most valued firms plunged Rs4,95,061 crore last week, in line with a bearish trend in equities, where Tata Consultancy Services (TCS) and Reliance Industries (RIL) faced the sharpest erosion.

Last week, the BSE benchmark tanked 4,091.53 points or 4.98 per cent. “The Indian equity market recorded its steepest weekly decline since June 2022, with the Nifty losing 4.77 per cent. The week began with the US Federal Reserve’s announcement, which significantly altered market sentiment.”

“Led by Chair Jerome Powell, the Federal Reserve revised its outlook to only two rate cuts in 2025 instead of the previously anticipated four. This shift in policy dampened market confidence,” said Pravesh Gour, senior technical analyst, Swastika Investmart Ltd. The market capitalisation (mcap) of Tata Consultancy Services (TCS) slumped Rs1,10,550.66 crore to Rs15,08,036.97 crore. The valuation of Reliance Industries tumbled Rs91,140.53 crore to Rs16,32,004.17 crore. HDFC Bank’s market valuation eroded by Rs76,448.71 crore to Rs13,54,709.35 crore and that of Bharti Airtel tanked Rs59,055.42 crore to Rs8,98,786.98 crore.