Last week, 9 of 10 top companies of the country lost a total of Rs 3.96 lakh crore in market capitalization
The past week has been a sell-off in the Indian stock markets. Just before the budget, there was a huge fall in the stock markets due to profit booking. This led to a sharp decline in the market capitalization of many companies in the past week. The market capitalization (m-cap) of 9 of the top 10 companies of the Sensex fell by Rs 3,96,629.40 crore last week. The biggest decline was recorded in the market-cap of Reliance Industries last week.
Last week, the 30-share Sensex of the Bombay Stock Exchange fell 2,592.77 points or 5.30 per cent. Last week, only ICICI Bank’s market capitalization of the country’s top-10 companies increased in terms of market capitalization. ICICI Bank’s market capitalization rose by Rs 2,397.43 crore to Rs 3,70,773.35 crore last week.
On the other hand, the market capitalization of Reliance Industries Ltd. was the biggest drop at Rs 1,30,909.45 crore, taking it to Rs 11,68,454.02 crore. Tata Consultancy Services’ M-Cap declined by Rs 71,482.92 crore last week, bringing it down to Rs 11,68,079.84 crore. Similarly, the market capitalization of Infosys declined by Rs 42,936.43 crore to Rs 5,28,040.02 crore.
HDFC’s market valuation fell by Rs 38,083.07 crore to Rs 4,28,040.72 crore last week. Hindustan Unilever’s M-cap decreased by Rs 34,150.8 crore, taking it to Rs 5,31,798.56 crore. In addition, HDFC Bank’s market capitalization declined by Rs 28,894.3 crore to Rs 7,66,218.59 crore.
Kotak Mahindra Bank, its market capitalization lost Rs 23,320.13 crore last week and came down to Rs 3,39,345.13 crore. Bajaj Finance’s market valuation declined by Rs 13,949.9 crore to Rs 2,85,382.35 crore and Bharti Airtel’s M-cap fell by Rs 12,902.4 crore to Rs 3,01,801.43 crore.
Reliance Industries Limited stood first in the list of top-10 companies in the last week. Then followed by TCS, HDFC Bank (HDFC Bank), Hindustan Unilever (HUL), Infosys, HDFC, ICICI Bank (ICICI Bank), Kotak Mahindra Bank (Kotak Mahindra Bank), Bharti Airtel and Bajaj Finance respectively.