New Delhi, March 15: The combined market valuation of the top-10 domestic firms eroded sharply by Rs 4.48 lakh crore last week, in tandem with a steep decline in equities, with banking majors State Bank of India and HDFC Bank taking the biggest hit.
Last week, the BSE benchmark Sensex tanked 4,354.98 points or 5.51 per cent, and the NSE Nifty dropped 1,299.35 points or 5.31 per cent as surging crude prices raised concerns over inflationary pressures and global economic stability amid the widening conflict in West Asia.
“The primary driver behind the market weakness was the sustained rise in crude oil prices following the escalating Middle East conflict,” Ajit Mishra, SVP, Research, Religare Broking Ltd, said. (PTI)
