Gujarat: The market valuation of the top 10 firms fell by Rs 39,000 crore in one day.

Nine out of the top ten companies headquartered in Gujarat lost a market cap of Rs 39,000 crore in a day . Gujarat Fluorochemicals, Zydus Lifesciences, Torrent Pharma, and Torrent Power, among other Adani Group companies, lost more than Rs 1,000 crore in a day .

AHMEDABAD: Nine out of the top ten companies headquartered in Gujarat lost a market cap of Rs 39,000 crore in a day as sensex fell more than 1,000 points on Friday.Gujarat Fluorochemicals, Zydus Lifesciences, Torrent Pharma, and Torrent Power, among other Adani Group companies, lost more than Rs 1,000 crore in a day.AIA Engineering, on the other hand, saw a Rs 2,000 crore increase on Friday.Market analysts, on the other hand, believe that Gujarat businesses have shown a less decline and greater stability than large businesses.

Hitesh Somani, a technical research analyst, reported that out of ten leading Gujarat-based companies, nine saw a significant drop in stock prices and their market cap fell by Rs 41,000 crore.If the Nifty falls below 17,000, we may see big downside changes, which will have a detrimental effect on these companies.We may see a reversal from the current levels, he said, as we will see great support.On Friday, the Nifty closed at 17,327 levels, down by 302 points (1.72%), while the BSE sensex closed at 58,098, down by 1,020 points, and the market cap of BSE listed companies decreased by Rs 4.8 lakh crore to Rs 276.64 lakh crore on Friday.

Many markets in Germany, France, and Hong Kong reported their 52-week low on Friday.The Indian market has also faltered, as global economic worries have increased sharply.