Mumbai11 minutes ago
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Last week, amid the fluctuations in the stock market, five of the top 10 companies of the country had to suffer huge losses. The combined market capitalization (market cap) of these five companies has decreased by Rs 1.02 lakh crore.
HDFC Bank has been hardest hit, whose value alone declined by more than Rs 56,000 crore. On the other hand, companies like Reliance Industries and Bharti Airtel have increased their value despite the market decline.
HDFC Bank gets a shock of Rs 56,124 crore
HDFC Bank remained at the forefront in terms of decline in market cap. The value of the bank declined by Rs 56,124.48 crore to Rs 12,01,267.28 crore. Apart from this, the market value of FMCG company Hindustan Unilever (HUL) decreased by Rs 18,009.62 crore.
Bajaj Finance suffered a loss of Rs 15,338.42 crore and IT sector giant TCS suffered a loss of Rs 7,127.63 crore. The value of ICICI Bank has also decreased by Rs 6,171.72 crore.
Rise in market cap of Reliance and Airtel
Even in this declining environment, 5 companies made profits. The market value of Reliance Industries increased by Rs 45,942.75 crore to Rs 19,14,235.92 crore. The week was also good for the investors of Bharti Airtel, the value of the company increased by Rs 24,462.03 crore. Apart from these, SBI gained Rs 10,707 crore, LIC gained Rs 2,624 crore and Infosys gained Rs 2,473 crore.
There was a slight decline in Sensex and Nifty
Last week the domestic stock market closed almost flat. There was a slight decline of 30.96 points or 0.04% in BSE Sensex. At the same time, NSE Nifty closed down by 36.6 points or 0.15%.
Market experts say that the atmosphere was positive in the first three days of the week, but the sharp fall on Thursday wiped out the entire gain. A lot of volatility was seen in the market even on the last trading day.
What do market experts say?
Ajit Mishra, SVP (Research), Religare Broking Limited, said, “There is an atmosphere of caution in the market at present. The week had started well, but selling pressure at upper levels reduced the gains. Investors are now keeping an eye on global cues and domestic economic data in the coming times.”
Reliance is still the country’s number 1 company
Reliance Industries still remains India’s most valuable company in terms of market cap. After this comes HDFC Bank, Bharti Airtel, State Bank of India, ICICI Bank, TCS, Bajaj Finance, Infosys, LIC and Hindustan Unilever.
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