Business Standard
The combined market valuation of seven of the top-10 most-valued firms eroded by Rs 2 lakh crore last week, with Tata Consultancy Services and Reliance Industries emerging as the biggest laggards, in-tandem with a bearish trend in equities. Last week, the BSE benchmark Sensex tanked 1,829.33 points, or 2.33 per cent, and the NSE Nifty dropped 455.6 points, or 1.87 per cent. "Markets ended lower after two consecutive weeks of gains, weighed down by heightened geopolitical tensions and weak earnings commentary from IT majors," Ajit Mishra -- SVP, Research, Religare Broking Ltd, said. Global developments continued to dominate market direction, with ongoing uncertainty around the West Asia crisis and concerns over supply disruptions keeping crude oil prices elevated, he added. The combined market valuation of seven of the top-10 most valued firms dropped by Rs 2,05,343.06 crore. The market valuation of Tata Consultancy Services (TCS) tumbled Rs 66,699.44 crore to Rs 8,67,364.12 ...
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