Mumbai, March 8: The ongoing conflict in the Middle East is affecting Indian markets significantly. Larsen & Toubro (L&T), one of the country’s leading companies, has seen its market capitalization decrease by ₹45,629.03 crore, bringing it down to ₹5,43,208.36 crore.
The decline in L&T’s market cap is attributed to the company’s substantial exposure in the Middle East. Experts warn that escalating tensions in the region could impact ongoing projects.
In total, eight of the top ten companies in India have experienced a combined market cap loss of approximately ₹2,81,581.53 crore this week. This includes major firms such as SBI, ICICI Bank, HDFC Bank, Bajaj Finance, TCS, and Hindustan Unilever.
During this review period, the State Bank of India’s market cap fell by ₹53,952.96 crore, now standing at ₹10,55,567.27 crore. ICICI Bank’s market cap decreased by ₹46,936.82 crore to ₹9,40,049.82 crore. HDFC Bank also saw a decline of ₹46,552.3 crore, bringing its market cap to ₹13,19,107.08 crore.
Additionally, Bajaj Finance’s market cap dropped by ₹28,934.56 crore to ₹5,91,136.03 crore, while Tata Consultancy Services (TCS) saw a reduction of ₹28,492.44 crore, now at ₹9,25,380.15 crore. Hindustan Unilever’s market cap decreased by ₹26,350.67 crore, settling at ₹5,23,042.51 crore. Bharti Airtel’s market cap also fell by ₹4,732.75 crore to ₹10,67,120.50 crore.
Conversely, Reliance Industries and Infosys have observed an increase in their market caps. Reliance Industries’ market cap rose by ₹14,750.39 crore to ₹19,01,583.05 crore, while Infosys gained ₹3,459.99 crore, reaching ₹5,30,546.54 crore.
Ajit Mishra, Senior Vice President of Research at Religare Broking Limited, noted that the rising geopolitical tensions in West Asia and a sharp increase in crude oil prices have led to significant losses in the markets, impacting investor sentiment.
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