Last week, the BSE benchmark Sensex fell 4,354.98 points, or 5.51 percent, and the NSE Nifty fell 1,299.35 points, or 5.31 percent, as higher crude oil prices raised concerns about inflationary pressures and global economic stability amid broader tensions in West Asia.
“The primary factor behind the market’s weakness was the sustained rise in oil prices following the escalating conflict between Iran, the US and Israel. Brent crude oil touched $101 per barrel, raising concerns about India’s fiscal position and inflation outlook,” said Ajit Mishra – SVP, Research, Religare Broking Ltd.
State Bank of India’s market capitalization fell by Rs 89,306.22 crore to Rs 9,66,261.05 crore.
HDFC Bank suffered a write-off of Rs 61,715.32 crore to Rs 12,57,391.76 crore.
Bajaj Finance’s value fell from Rs 59,082.49 crore to Rs 5,32,053.54 crore and Tata Consultancy Services (TCS) fell from Rs 53,312.52 crore to Rs 8,72,067.63 crore.
ICICI Bank’s market capitalization (mcap) fell to Rs 8,97,844.78 crore from Rs 42,205.04 crore and Bharti Airtel fell by Rs 38,688.78 crore to Rs 10,28,431.72 crore. The value of Reliance Industries fell to Rs 98,338 crore. 18,68,293.17 crores
LIC’s mcap fell to Rs 4,88,985.57 crore from Rs 31,245.49 crore and Infosys’s fell to Rs 5,06,315.58 crore from Rs 24,230.96 crore.
Unilever India’s mcap fell to Rs 5,07,640.94 crore from Rs 15,401.57 crore.
Reliance Industries remains the most valuable domestic company, followed by HDFC Bank, Bharti Airtel, State Bank of India, ICICI Bank, TCS, Bajaj Finance, Hindustan Unilever, Infosys and LIC.
