Market Overview - The BSE benchmark Sensex fell by 4,354.98 points or 5.51 percent, while the NSE Nifty dropped by 1,299.35 points or 5.31 percent due to rising crude oil prices and concerns over inflation and global economic stability amid the conflict in West Asia [1][9]. Key Drivers - The primary driver of market weakness was the sustained rise in crude oil prices, with Brent crude surpassing USD 101 per barrel, raising concerns about India's fiscal position and inflation outlook [2][9]. Company Valuations - The market valuation of State Bank of India decreased by Rs 89,306.22 crore to Rs 9,66,261.05 crore [2][9]. - HDFC Bank's valuation eroded by Rs 61,715.32 crore to Rs 12,57,391.76 crore [3][9]. - Bajaj Finance's valuation dived by Rs 59,082.49 crore to Rs 5,32,053.54 crore, while Tata Consultancy Services (TCS) saw a decline of Rs 53,312.52 crore to Rs 8,72,067.63 crore [6][9]. - ICICI Bank's market capitalisation dropped by Rs 42,205.04 crore to Rs 8,97,844.78 crore, and Bharti Airtel's valuation plunged by Rs 38,688.78 crore to Rs 10,28,431.72 crore [7][9]. - Reliance Industries' valuation fell by Rs 33,289.88 crore to Rs 18,68,293.17 crore, while LIC's market capitalisation diminished by Rs 31,245.49 crore to Rs 4,88,985.57 crore [8][9]. - Infosys experienced a decline of Rs 24,230.96 crore to Rs 5,06,315.58 crore, and Hindustan Unilever's market capitalisation dipped by Rs 15,401.57 crore to Rs 5,07,640.94 crore [8][9]. Overall Market Impact - The combined market valuation of the top-10 domestic firms eroded sharply by Rs 4.48 lakh crore, with significant losses primarily attributed to banking majors State Bank of India and HDFC Bank [9].
M-cap of top 10 firms tumbles by Rs 4.48 lakh cr; SBI, HDFC Bank top laggards
The Economic Times·2026-03-15 05:18