Mcap of 7 of top 10 most valued firms erodes ₹1.13 trn, Airtel worst hit

The combined market valuation of seven of the top-10 most-valued firms eroded by Rs 1.13 lakh crore last week, with Bharti Airtel and Reliance Industries emerging as the biggest laggards, in-tandem with a bearish trend in equities. Last week, the BSE benchmark Sensex declined 276.32 points, or 0.35 per cent, and the NSE Nifty dipped 76.35 points, or 0.31 per cent. "Indian equity markets ended the week on a cautious note, extending their recent corrective phase as concerns over global interest rates, geopolitical uncertainty and volatility surrounding the new closing auction session weighed on investor sentiment," Ajit Mishra -- SVP, Research, Religare Broking Ltd, said. Although markets recovered sharply on Friday, supported by strong buying in IT stocks following upbeat global technology cues, the benchmark indices remained under pressure for the third consecutive week, he added. While Reliance Industries, Bharti Airtel, HDFC Bank, Bajaj Finance, Larsen & Toubro, Life Insurance ..