Market Turmoil Hits India's Corporate Giants

In a week marked by declining investor confidence, six of India's top 10 most valued companies witnessed a staggering combined erosion of Rs 1,36,151.24 crore in market capitalisation. Reliance Industries emerged as the biggest loser, with its market cap plunging by Rs 34,710.8 crore to Rs 18,51,174.59 crore.

Banking and IT Sectors Under Pressure

HDFC Bank and ICICI Bank were not spared, losing Rs 29,722.04 crore and Rs 24,719.45 crore respectively. The IT sector felt the pinch too, with Infosys seeing its market value decline by Rs 19,504.31 crore.

A Silver Lining for Some

Amid the downturn, Life Insurance Corporation of India (LIC), Tata Consultancy Services (TCS), State Bank of India (SBI), and Bajaj Finance bucked the trend, registering gains in their market capitalisation.

Ranking of India's Most Valued Companies

Despite the losses, Reliance Industries retained its position as India's most valued company, followed by HDFC Bank, TCS, Bharti Airtel, and ICICI Bank.