Sensex The market valuation of eight out of the top 10 most valuable companies of the US declined by a collective Rs 1,28,913.5 crore last week. Amid the weak trend in the stock market, information technology sector’s leading companies Tata Consultancy Services (TCS) and Infosys suffered the biggest losses. During the week under review, the market capitalization of TCS declined by Rs 37,971.83 crore to Rs 15,49,626.88 crore. TCS itself suffered the biggest loss. The market valuation of Infosys fell by Rs 23,811.88 crore to Rs 7,56,250.47 crore.
ITC’s market position declined
The market cap of ITC declined by Rs 16,619.51 crore to Rs 6,11,423.11 crore and that of State Bank of India (SBI) declined by Rs 13,431.54 crore to Rs 7,56,717.85 crore. The valuation of Reliance Industries Ltd fell by Rs 13,125.49 crore to Rs 20,28,695.57 crore. In contrast, the market capitalisation of HDFC Bank rose by Rs 32,759.37 crore to Rs 12,63,601.40 crore. The valuation of Life Insurance Corporation of India (LIC) rose by Rs 1,075.25 crore to Rs 7,47,677.98 crore.
Airtel’s market capitalization also declined
Bharti Airtel’s market capitalisation fell by Rs 11,821.5 crore to Rs 8,50,389.88 crore. ICICI Bank’s market cap fell by Rs 7,843.75 crore to Rs 8,42,176.78 crore. Hindustan Unilever’s valuation fell by Rs 4,288 crore to Rs 6,32,862.41 crore.
Reliance Industries remains on top
Last week, the 30-share BSE Sensex fell 350.77 points or 0.43 percent. In the list of top 10 companies, Reliance Industries remained at the first position. It was followed by TCS, HDFC Bank, Bharti Airtel, ICICI Bank, State Bank of India, Infosys, LIC, Hindustan Unilever and ITC.
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