Last week was nothing special in terms of stock market. There was a huge decline in the stock market due to the fall in the shares of IT companies and geo-political tension. Where a decline of more than 2 percent was seen in Sensex. On the other hand, a decline of more than one and a half percent was seen in Nifty. The effect of which was seen in the market cap of the country’s big companies. Talking about the figures, last week, the total market valuation of seven of the top-10 most valued companies declined by Rs 2 lakh crore.
The special thing is that the country’s top companies TCS and Reliance Industries suffered the most loss. The special thing is that 7 companies have suffered a total loss, out of which TCS and Reliance Industries have suffered more than 50 percent loss, a total loss of more than Rs 1.17 lakh crore.
On the other hand, the three companies which have benefited are HUL, SBI and Bajaj Finance. Whose market cap saw an increase of more than Rs 48 thousand crore. Let us also tell you how much loss has been incurred by 7 companies among the top 10 companies of the country and how much profit has been made by 3 companies.
How much loss did the country’s big companies suffer?
- The total market valuation of seven of the top-10 most valued companies declined by Rs 2,05,343.06 crore.
- The market valuation of the country’s largest IT company Tata Consultancy Services (TCS) fell by Rs 66,699.44 crore to Rs 8,67,364.12 crore.
- The valuation of the country’s largest company Reliance Industries declined by Rs 50,670.34 crore, which now stands at Rs 17,96,647.50 crore.
- The valuation of the country’s largest private lender HDFC Bank fell by Rs 23,090.05 crore to Rs 12,08,225.48 crore.
- The valuation of the country’s largest insurance company Life Insurance Corporation of India (LIC) fell by Rs 19,670.75 crore to Rs 5,13,020.56 crore.
- The market capitalization (mcap) of Bharti Airtel, one of the country’s largest telecom companies, fell by Rs 19,406.59 crore to Rs 11,05,718.62 crore.
- The market cap of the country’s second largest private lender ICICI Bank declined by Rs 14,663.27 crore to Rs 9,50,345.40 crore.
- The market cap of the country’s largest infra company Larsen & Toubro declined by Rs 11,142.62 crore to Rs 5,52,171.88 crore.
- On the other hand, the valuation of the country’s largest FMCG company Hindustan Unilever increased by Rs 20,652.91 crore to Rs 5,47,219.80 crore.
- The market cap of State Bank of India, the country’s largest government lender, increased by Rs 19,522.76 crore to Rs 10,16,752.53 crore.
- The valuation of the country’s largest NBFC Bajaj Finance increased by Rs 8,253.64 crore to Rs 5,73,690.81 crore.
Why did the valuation decrease?
Last week, the BSE benchmark Sensex fell 1,829.33 points, or 2.33 percent, and the NSE Nifty fell 455.6 points, or 1.87 percent. Ajit Mishra, SVP (Research), Religare Broking Limited, said that the markets closed down after two consecutive weeks of gains. The reasons for this were increasing geopolitical tension and weak earnings estimates from big IT companies. He further said that global events continued to decide the direction of the market.
Crude oil prices remained high due to ongoing uncertainty over the West Asia crisis and concerns about supply disruptions. Reliance Industries remained the most valued domestic company, followed by HDFC Bank, Bharti Airtel, State Bank of India, ICICI Bank, TCS, Bajaj Finance, Larsen & Toubro, Hindustan Unilever, and LIC.