Mcap of top-10 most valued firms slumps Rs 4.95 lakh cr; TCS, Reliance hardest hit
bearish trend in equities, where Tata Consultancy Services and Reliance Industries faced the sharpest erosion. Last week, the BSE benchmark tanked 4,091.53 points or 4.98 per cent.
«The Indian equity market recorded its steepest weekly decline since June 2022, with the Nifty losing 4.77 per cent. The week began with the US Federal Reserve's announcement, which significantly altered market sentiment.
«Led by Chair Jerome Powell, the Federal Reserve revised its outlook to only two rate cuts in 2025 instead of the previously anticipated four. This shift in policy dampened market confidence,» Pravesh Gour, Senior Technical Analyst, Swastika Investmart Ltd, said.
The market capitalisation (mcap) of Tata Consultancy Services (TCS) slumped Rs 1,10,550.66 crore to Rs 15,08,036.97 crore.
The valuation of Reliance Industries tumbled Rs 91,140.53 crore to Rs 16,32,004.17 crore.
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