Indian markets reeled from Middle East strife, as Larsen & Toubro (L&T) watched its market cap evaporate by ₹45,629.03 crore, now at ₹5,43,208.36 crore. The episode reveals how global flashpoints can swiftly undermine even the sturdiest blue-chips.
L&T’s deep entrenchment in Middle Eastern infrastructure projects puts it in the crosshairs. Heightened risks of disruptions have spooked shareholders, leading to a swift valuation reset.
Wider carnage hit top-tier firms: A ₹2,81,581.53 crore collective plunge for eight of the top 10. Detailed losses include SBI’s ₹53,952.96 crore drop to ₹10,55,567.27 crore; ICICI’s ₹46,936.82 crore fall to ₹9,40,049.82 crore; and HDFC Bank’s ₹46,552.3 crore decline to ₹13,19,107.08 crore.
Bajaj Finance lost ₹28,934.56 crore to ₹5,91,136.03 crore, TCS slipped ₹28,492.44 crore to ₹9,25,380.15 crore, HUL shed ₹26,350.67 crore to ₹5,23,042.51 crore, and Airtel dipped ₹4,732.75 crore to ₹10,67,120.50 crore.
Countering the trend, Reliance Industries added ₹14,750.39 crore to hit ₹19,01,583.05 crore, with Infosys gaining ₹3,459.99 crore to ₹5,30,546.54 crore.
Per Ajit Mishra of Religare Broking, ‘Oil price surges and West Asian unrest marred a holiday-shortened week, denting investor morale deeply.’
The downturn prompts scrutiny of portfolio exposures. For Indian markets, insulating against such external shocks will be key to steady recovery amid ongoing uncertainties.