Fierce market volatility has hit India’s top 10 companies, with TCS and RIL leading the decline, as their market capitalization shrinks by a staggering Rs 1.27 lakh crore.

The top 10 most-valued companies in India lost a cumulative market value of Rs 17,572 crore (approximately $2.2 billion) on Friday. Tata Consultancy Services (TCS) and Reliance Industries were the biggest losers, with market valuations declining by Rs 36,759.77 crore and Rs 33,084.85 crore, respectively. TCS’ market capitalization now stands at Rs 15.08 lakh crore, while Reliance Industries’ stands at Rs 16.31 lakh crore. Other losers included State Bank of India, HDFC Bank, Infosys, Bharti Airtel, Hindustan Unilever, HCL Technologies, and ITC, with market capitalization falls ranging from Rs 4,640.44 crore to Rs 18,563.19 crore. The losses came as the Nifty recorded its worst week in months.