India’s equity markets witnessed a sharp decline last week, resulting in a massive erosion of Rs 4.48 lakh crore in the combined market valuation of the country’s ten most valuable companies. The downturn was triggered by rising global crude oil prices and escalating geopolitical tensions in West Asia, which intensified investor concerns about inflation and economic stability. Banking giants State Bank of India and HDFC Bank recorded the steepest losses in market capitalization.