Big fall in stock market: Reliance suffered the biggest blow, 9 out of top 10 companies suffered a loss of Rs 3.12 lakh crore.

Knews Desk-There were sharp fluctuations in the Indian stock market during the last trading week, which had a direct impact on the market value of the top companies of the country. Sensex and Nifty fell by about 2.5%, resulting in a total market cap loss of Rs 3,12,056 crore for 9 of the top 10 most valuable companies. Reliance Industries has suffered the biggest loss in this decline.

Mukesh Ambani-led Reliance Industries Limited (RIL) saw a huge decline of Rs 1,34,445.77 crore in its market value. After this the total market cap of the company decreased to approximately Rs 18,08,420 crore. This was the biggest loss during this period.

Banking and IT sectors are also under pressure

Major banking and IT sector companies of the country have also suffered a setback.

• The value of State Bank of India (SBI) decreased by Rs 52,245 crore.
• Tata Consultancy Services (TCS) market cap reduced by Rs 47,415 crore
• HDFC Bank’s value decreased by Rs 20,630 crore
• ICICI Bank’s market cap reduced by Rs 14,290 crore

These declines have highlighted the weak condition of the banking and tech sectors.

Impact on other big companies

• Bajaj Finance’s value decreased by Rs 27,892 crore
• Larsen & Toubro’s market cap reduced by Rs 9,078 crore
• Hindustan Unilever’s value reduced by Rs 3,970 crore
• Market cap of Life Insurance Corporation (LIC) decreased by Rs 2,182 crore.

Airtel becomes the only profitable company

Only Bharti Airtel benefited among the top 10 companies. The market cap of the company increased by Rs 42,470 crore to reach Rs 11,60,525 crore. This was the only positive performance during this period.

due to market decline

According to experts, there were many global and domestic reasons behind the decline in the market. Geopolitical tensions in West Asia, rupee weakness and rising inflation weighed on investor sentiment. Additionally, crude oil prices rising above $105 per barrel increased inflation and pressure on corporate margins.

Last week was a weak one for the Indian stock market, with most of the big companies suffering heavy losses. Although some stocks like Airtel gave relief, the overall market remains under pressure and investors are eyeing the coming week.