share market
Last week was nothing special in terms of stock market. Due to holidays, trading sessions were less and the market was sluggish. Its impact was clearly visible even on the biggest companies of the country. The total market value of 7 companies among the top-10 most valuable companies decreased by about Rs 35,439 crore. Government banking giant State Bank of India (SBI) had to bear the biggest loss in this decline.
Although BSE Sensex closed with slight gains throughout the week, not all the big companies benefited from it. Weak global cues, investor caution and profit-booking in select stocks kept the values of big names under pressure. For this reason, a downward trend was seen in top companies.
Biggest blow to SBI
There was a decline of more than Rs 12,000 crore in the market valuation of State Bank of India alone. After this, the value of big companies like Reliance Industries, Bajaj Finance and Larsen & Toubro also decreased by thousands of crores of rupees. ICICI Bank, LIC and TCS also could not escape this fall.
Some companies took charge
Where most of the big companies remained under pressure. At the same time, some shares also gave relief to investors. A good increase was seen in the market value of HDFC Bank. Infosys and Bharti Airtel also performed strongly and increased their market cap. This made it clear that the market was not completely weak, rather buying continued in select sectors.
Reliance still number one
Amidst the ups and downs, Reliance Industries remained the most valuable company in the country. This was followed by HDFC Bank and Bharti Airtel. TCS, ICICI Bank and SBI also remain in the top ranking. However, their value declined. Market experts believe that the current decline is short-term. This weakness due to holidays and limited business is not a reason to panic for long-term investors. Companies with good fundamentals can show strength again in future.
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