Mukesh Ambani
The downward trend in the stock market is not stopping. Last week, the 30-share BSE Sensex fell 759.58 points or 0.98 percent. At the same time, Nifty of National Stock Exchange fell by 228.3 points or 0.97 percent. Due to this, 6 out of the top 10 companies included in the Sensex remained in loss. Whereas, 4 were in profit. Let us tell you that the market capitalization (market cap) of six of the top 10 most valuable companies of Sensex collectively declined by Rs 1.71 lakh crore last week. The biggest loss was suffered by Information Technology (IT) sector companies Infosys and Tata Consultancy Services (TCS). Infosys and TCS investors collectively lost Rs 1,13,547 crore.
Infosys investors suffered the most losses
Among the top 10 companies, Tata Consultancy Services, HDFC Bank, ICICI Bank, Infosys, Hindustan Unilever and ITC collectively lost Rs 1,71,680.42 crore in market valuation. In the week under review, the market valuation of Infosys declined by Rs 62,948.4 crore to Rs 7,53,678.38 crore. Infosys suffered the most loss. Infosys shares fell by nearly per cent on Friday amid profit-booking after the announcement of third quarter results. The market capitalization of TCS declined by Rs 50,598.95 crore to Rs 14,92,714.37 crore.
Hindustan Unilever’s valuation declined by Rs 20,605.92 crore to Rs 5,53,152.52 crore and ICICI Bank’s valuation declined by Rs 16,005.84 crore to Rs 8,65,495.17 crore. HDFC Bank’s market cap declined by Rs 15,640.8 crore to Rs 12,51,799.81 crore. ITC’s valuation declined by Rs 5,880.51 crore to Rs 5,50,702.93 crore.
Reliance gave support to the market
At the same time, the market position of Reliance Industries, Bharti Airtel, State Bank of India (SBI) and Life Insurance Corporation of India (LIC) increased. Reliance Industries’ valuation increased by Rs 79,773.34 crore to reach Rs 17,60,967.69 crore. The market value of State Bank of India increased by Rs 18,697.08 crore to Rs 6,81,930.22 crore. LIC added Rs 9,993.5 crore during the week and its market valuation reached Rs 5,40,724.05 crore. Bharti Airtel’s market capitalization increased by Rs 7,080.98 crore to Rs 9,27,014.97 crore. Reliance Industries remained at the first position among the top 10 companies of Sensex. It was followed by TCS, HDFC Bank, Bharti Airtel, ICICI Bank, Infosys, State Bank of India, Hindustan Unilever, ITC and LIC respectively.
Latest Business News
