Stock market
Last week, the market cap of 6 of the top 10 listed companies in the country recorded a huge decline amidst fluctuations in the stock market. Overall, the market capital of these companies has decreased by Rs 2.22 lakh crore. At the same time, some companies have made a good benefit even in the midst of this decline.
Last week, the BSE Sensex closed down 294.64 points, or 0.36%. This weakness had a direct impact on the market price of the largest companies in the country. Reliance Industries, the maximum damage, decreased more than Rs 1.14 lakh crore in a shock.
Who got the biggest shock?
Reliance Industries suffered the biggest loss. The company’s market cap declined by Rs 1,14,687.7 crore to Rs 18.83 lakh crore. In this way, in the same week, Reliance’s value declined drastically.
Infosys also had to face the effect of this decline. The market cap of this legendary company of the IT sector decreased by Rs 29,474 crore, due to which its total value has now reduced to Rs 6.29 lakh crore.
The value of government insurance company LIC also recorded a major decline. LIC’s market cap declined by Rs 23,086 crore to Rs 5.60 lakh crore.
A large IT company like Tata Consultancy Services (TCS) also did not remain untouched by this decline. The market cap of TCS declined by Rs 20,080 crore and now it stopped at Rs 11.34 lakh crore. Bajaj Finance and Hindustan Unilever also suffered a loss of Rs 17,524 crore and Rs 17,339 crore respectively.
Some companies caught the path of profits
However, despite this decline in the market, four companies succeeded in increasing their market cap. These companies not only saved themselves from damage, but also benefited the shareholders.
HDFC Bank’s market cap increased by Rs 37,161 crore to Rs 15.38 lakh crore. This company has become the country’s second largest market capital firm.
The market price of ICICI Bank increased by Rs 35,814 crore, causing its total market cap to Rs 10.53 lakh crore. Bharti Airtel also performed brilliantly and its market cap rose by Rs 20,841 crore to Rs 11.04 lakh crore.
State Bank of India (SBI) also got an edge. The market price of this public sector bank increased by Rs 9,685 crore to Rs 7.44 lakh crore.
New ranking of top 10 companies
Even after recent upheaval, Reliance Industries remains the largest company in the country. After that HDFC Bank, TCS, Bharti Airtel, ICICI Bank, SBI, Infosys, LIC, Bajaj Finance and Hindustan Uniler were ranked.
This ups and downs show that the status of companies also changes rapidly in the stock market. While some companies do not survive in the decline of the market, some stalwarts also move firmly in that.