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Investors shocked to see the market value falling by crores of six top 10 companies, including Reliance
Share Market: Due to the fall in the stock market last week, the market value of the country's top 6 companies fell by ₹ 2.22 lakh crore. Reliance Industries suffered the biggest loss. However, HDFC Bank, ICICI Bank, Bharti Airtel, and SBI gained in market value. The market remains volatile, and investors have been advised to remain cautious.
During the last week, the impact of weakness in the stock market also fell on the most valued companies of the nation. The market cap of 6 among the top 10 most valued companies saw an overall fall of ₹ 2.22 lakh crore. Reliance Industries bore the biggest hit in the downfall, whose market cap fell to ₹ 1.14 lakh crore.
The BSE Sensex dropped 294.64 points or 0.36 percent during the last week. Experts observe that the market continued to come under pressure from selling by foreign investors, indecision in trade pacts, and poor performance of a few large firms. But relief came from the banking sector on account of good performances.
The market cap of Reliance Industries fell by ₹ 1,14,687.7 crores to ₹ 18,83,855.52 crores. This is the biggest decline among the top-10 companies. Apart from this, TCS suffered a decline of ₹ 20,080.39 crores, Infosys ₹ 29,474.56 crores, LIC ₹ 23,086.24 crores, Bajaj Finance ₹ 17,524.3 crores, and Hindustan Unilever ₹ 17,339.98 crores.
However, some companies also registered growth in the market. HDFC Bank's market cap rose by ₹37,161.53 crore to ₹15,38,078.95 crore. ICICI Bank gained ₹35,814.41 crore, and its valuation reached ₹10,53,823.14 crore. Bharti Airtel gained ₹20,841.2 crore, and State Bank of India gained ₹9,685.34 crore.
