New Delhi: The market capitalization (market cap) of the top 10 Sensex companies collectively declined by Rs 2.53 lakh crore last week. Meanwhile, the local markets were also under heavy selling pressure amid a sharp fall in the global markets. The 30-share BSE Sensex fell nearly four per cent on a weekly basis as foreign portfolio investors (FPIs) cut profits in stocks of large companies and select mid-sized companies.
The Sensex fell 2,185.85 points or 3.57 per cent last week. On the other hand, the Nifty of the National Stock Exchange was down by 638.60 points or 3.49 percent. The market capitalization of the country’s top 10 companies collectively declined by Rs 2,53,394.63 crore amid a sharp fall in the stock markets. The market capitalization of Reliance Industries declined by Rs 40,974.25 crore to Rs 16,76,291.69 crore in the reporting week. Information technology companies Tata Consultancy Services (TCS) and Infosys collectively suffered a loss of Rs 1,09,498.10 crore. TCS’s market position declined to Rs 14,18,530.72 crore. The valuation of Infosys came down to Rs 7,51,144.40 crore.
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At the same time, the market valuation of country’s top banks… HDFC Bank, ICICI Bank and State Bank of India collectively came down by Rs 29,239.04 crore. HDFC Bank’s market valuation declined by Rs 13,563.15 crore to Rs 8,42,876.13 crore. SBI’s market position declined by Rs 4,863.91 crore to Rs 4,48,729.47 crore and ICICI Bank’s loss by Rs 10,811.98 crore to Rs 5,58,699.39 crore. Hindustan Unilever’s market capitalization fell by Rs 9,938.77 crore to Rs 5,45,622.08 crore and that of Bajaj Finance declined by Rs 27,653.67 crore to Rs 4,45,033.13 crore.
HDFC’s valuation declined by Rs 22,003.75 crore to Rs 4,69,422.38 crore. Telecom major Bharti Airtel’s market capitalization declined by Rs 14,087.05 crore to Rs 3,81,723.36 crore. Reliance Industries retained the first position in the list of top 10 companies. It was followed by TCS, HDFC Bank, Infosys, ICICI Bank, Hindustan Unilever, HDFC, SBI, Bajaj Finance and Bharti Airtel respectively. (agency)