Mcap of 9 of 10 valued firms erodes Rs 4.74 trn; RIL, HDFC Bank hit hard

The combined market capitalization of nine out of India’s top ten most valuable companies eroded by Rs 4.74 trillion in a single trading session. Major companies like Reliance Industries and HDFC Bank were among the hardest hit, primarily due to geopolitical uncertainties and rising global bond yields. The market volatility has sparked concerns over the sustainability of high valuations, particularly for companies in sectors exposed to global risks. The stock market correction reflects broader investor caution as external factors weigh on sentiment.