Business News: India’s Top 6 Companies Incur Heavy Losses of Over Rs 78,000 Cr, Market Opens Strong

Business News: The stock market rebounded sharply Wednesday, with the Sensex starting at Rs 81,928 and the Nifty at Rs 24,919. Despite this spike, the aggregate market capitalisation of the top ten Sensex-listed companies fell by Rs 78,166.08 crores over the last week. Reliance Industries suffered the brunt of the losses due to market weakness, losing Rs 40,800.4 crores and reducing its valuation to Rs 19,30,339.56 crores. Other big firms, including TCS, ICICI Bank, SBI, Infosys, and Hindustan Unilever, saw their market capitalisations fall.

Indian Companies Witness Decline in M-Cap

However, despite the overall collapse, a few corporations were able to register increases. Bharati Airtel’s market valuation rose by Rs 10,121.24 crores to Rs 10,44,682.72 crores, while Bajaj Finance's worth improved by Rs 4,548.87 crores to Rs 5,74,207.54 crores. Among the companies that registered losses, Infosys’ valuation dropped by Rs 10,488.58 crores to Rs 6,49,876.91 crores, Hindustan Unilever by Rs 5,462.8 crores to Rs 5,53,974.88 crores, ICICI Bank by Rs 2,454.31 crores to Rs 10,33,868.01 crores, and SBI by Rs 2,249.45 crores to Rs 7,005,446.59 crores. TCS and HDFC Bank experienced lower reductions, with declines of Rs 875.99 crore and Rs 399.93 crore, respectively.