TCS, Bharti Airtel take biggest hit as top firms lose Rs 1.65L Cr
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New Delhi: Tata Consultancy Services (TCS) suffered the biggest loss in market capitalization as the combined valuation of eight of India's ten most valuable companies fell by Rs 1,65,784.9 crore last week, aligning with the bearish trends in equities.
The BSE index fell 628.15 points (0.82%) and the Nifty dropped 133.35 points (0.58%) this week due to weak global markets and concerns over tariff wars.
TCS saw its market valuation decline by Rs 53,185.89 crore as its total value went down to Rs 13.7 lakh crore.
Bharti Airtel also witnessed a significant drop, with its market capitalization falling by Rs 44,407.77 crore to Rs 9.3 lakh crore.
ICICI Bank's valuation shrank by Rs 18,235.45 crore to Rs 8.7 lakh crore. Hindustan Unilever lost Rs 17,962.62 crore, bringing its market cap down to Rs 5.2 lakh crore. Infosys also faced a decline, with its valuation reducing by Rs 17,086.61 crore to Rs 7.5 lakh crore.
ITC's market capitalization took a hit, dropping by Rs 11,949.42 crore to Rs 5 lakh crore. HDFC Bank also saw a significant erosion of Rs 2,555.53 crore, bringing its valuation down to Rs 12.9 lakh crore.
Meanwhile, the State Bank of India (SBI) experienced a relatively minor decline of Rs 401.61 crore, with its valuation standing at Rs 6.4 lakh crore.
The Indian stock markets are expected to remain volatile in the near time, as per reports.
In the upcoming week, investors will keep an eye on key economic data, including the US Core PCE Price Index and India’s GDP figures, for further direction.
"On the daily chart, the index has formed an indecision candle at the support zone, highlighting uncertainty in the broader trend," Dhupesh Dhameja from SAMCO Securities said.
He added that the 22,800–22,700 zone has emerged as a strong buffer against deeper declines, while the 23,000 level, once a demand area, has now turned into a stiff resistance due to aggressive call writing and the presence of short-term moving averages.
(with inputs from IANS)