NEW DELHI: The market valuation of the top-10 most valued firms plunged by a whopping Rs 3.91 lakh crore last week, in tandem with a steep sell-off in equities, with TCS and Reliance Industries taking the biggest hit.
Past week, the BSE Sensex plunged 2,943.02 points or 5.42 per cent, while the NSE Nifty declined 908.30 points or 5.61 per cent. Markets have been extremely bearish of late amid rate hikes by global central banks, unrelenting foreign fund outflows and jump in crude oil prices.
The market valuation of the 10 most valued domestic firms eroded by Rs 3,91,620.01 crore last week. From the top-10 firms, Tata Consultancy Services (TCS) was the top loser, as its market valuation tumbled Rs 1,01,026.4 crore to stand at Rs 11,30,372.45 crore. The market capitalisation (mcap) of Reliance Industries Ltd (RIL) tanked Rs 84,352.76 crore to reach Rs 17,51,686.52 crore.
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