India's top-10 firms, including Reliance and LIC, lost ₹1.66 trillion in market value due to weak equities.
India's top-10 most valued firms, including Reliance Industries and Life Insurance Corporation, collectively lost ₹1.66 trillion ($22.5 billion) last week due to a weak trend in equities. The BSE benchmark index fell 1.57%. Reliance's market value decreased by ₹33,930.56 crore, while LIC's dropped by ₹30,676.24 crore. Other major companies such as State Bank of India, Infosys, Tata Consultancy Services, Bharti Airtel, and ICICI Bank also experienced significant losses. However, Hindustan Unilever and ITC were among the few to increase their market capitalization. The combined market cap of these eight laggards saw a decline of Rs 1,66,954.07 crore amid global sell-off and FII outflows.
August 11, 2024
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