Last week, the market cap (market valuation) of six of the top 10 most valuable Sensex companies collectively declined by Rs 1.71 lakh crore. The biggest losses during this period were suffered by companies in the Information Technology (IT) sector, especially Infosys and Tata Consultancy Services (TCS). Last week, the 30-share BSE Sensex closed down 759.58 points or 0.98 percent.
National Stock Exchange’s Nifty also fell by 228.3 points or 0.97 percent. Among the top 10 companies, the market valuation of Tata Consultancy Services, HDFC Bank, ICICI Bank, Infosys, Hindustan Unilever and ITC together declined by Rs 1,71,680.42 crore.
Market cap of these companies increased
However, the market position of Reliance Industries, Bharti Airtel, State Bank of India (SBI) and Life Insurance Corporation of India (LIC) has increased. The valuation of Reliance Industries increased by Rs 79,773.34 crore to 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, taking its market valuation to Rs 5,40,724.05 crore. Bharti Airtel’s market cap also increased by Rs 7,080.98 crore to Rs 9,27,014.97 crore.
Infosys suffered the most loss
In the week under review, the market valuation of Infosys declined by Rs 62,948.4 crore to Rs 7,53,678.38 crore, which is the biggest fall. Infosys shares fell due to profit-booking after the announcement of third quarter results. The market cap of TCS declined by Rs 50,598.95 crore to Rs 14,92,714.37 crore.
Among other companies, Hindustan Unilever’s valuation declined by Rs 20,605.92 crore to Rs 5,53,152.52 crore, 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 and ITC’s valuation declined by Rs 15,640.8 crore to Rs 12,51,799.81 crore. There was a decline of Rs 5,880.51 crore, which came to Rs 5,50,702.93 crore.
Reliance Industries remained at the first position among the top 10 Sensex companies, followed by TCS, HDFC Bank, Bharti Airtel, ICICI Bank, Infosys, State Bank of India, Hindustan Unilever, ITC and LIC respectively.
