Market Valuation of Eight Top Firms Drops Rs 2.81 Lakh Crore; SBI Leads Decline

Last week, eight of India's top-10 most valued firms saw a combined market capitalization decline of Rs 2.81 lakh crore amid weak equity markets. The State Bank of India experienced the largest drop, losing nearly Rs 54,000 crore. Other significant declines occurred in ICICI Bank, HDFC Bank, Larsen & Toubro, Bajaj Finance, Tata Consultancy Services, Hindustan Unilever, and Bharti Airtel. Conversely, Reliance Industries and Infosys posted gains, with Reliance's valuation rising by over Rs 14,700 crore. Market sentiment was affected by geopolitical tensions in West Asia and rising crude oil prices.