Indian markets slip as top five blue-chips shed nearly Rs 1 lakh crore
Dalal Street closed the week lower, with five of the ten most valuable Indian companies collectively losing almost Rs 1 lakh crore in market capitalisation.
Investor sentiment was dampened by elevated oil prices, renewed geopolitical uncertainty and mixed cues from overseas, prompting a weekly decline on Dalal Street. The Sensex ended down 489.92 points, or 0.62 per cent, and the Nifty slipped 204.65 points, or 0.83 per cent. Among the ten most valuable firms, TCS suffered the steepest fall, losing Rs 34,263.28 crore and bringing its market capitalisation to Rs 8,53,506.85 crore.
Reliance Industries, HDFC Bank, ICICI Bank, State Bank of India and TCS together erased nearly Rs 1 lakh crore in value. In contrast, LIC posted the largest gain, adding Rs 26,438.49 crore, while Bharti Airtel, Bajaj Finance, Larsen & Toubro and Hindustan Unilever together increased valuations by about Rs 55,149.45 crore. Despite the setbacks, Reliance Industries remained the most valuable company in India.
Why it matters
The slide highlights vulnerability of India's leading firms to global oil and geopolitical pressures, affecting investors and the broader economy.
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