Last week India's 5 biggest companies shed 1L/cr value
Business
Last week, five of India's biggest companies saw their combined value drop by ₹1 lakh crore as the stock market took a hit.
The Sensex slipped nearly 490 points and Nifty lost over 200 points.
TCS was hit hardest, losing over ₹34,000 crore in value.
Ajit Mishra cites oil, global tensions
Ajit Mishra - SVP, Research, Religare Broking Ltd from Religare Broking pointed to rising oil prices and global tensions as key reasons for the slump.
Reliance Industries and SBI also faced major losses.
But not everyone had a bad week: LIC and Bharti Airtel actually gained value, with LIC adding over ₹26,438.49 crore and Airtel up by more than ₹20,592.13 crore despite the overall downturn.