Mcap of five of top-10 most valued firms eroded by Rs 1.67 lakh crore; HDFC Bank biggest laggard: The market capitalization of five of the top 10 Sensex companies collectively declined by Rs 1,67,936.21 crore last week. HDFC Bank suffered the most loss. Last week, the 30-share BSE Sensex fell by 1,144.8 points or 1.57 percent. Normal trading sessions were organized on NSE and BSE on Saturday, January 20. Last week, the market cap of Reliance Industries, Tata Consultancy Services (TCS), HDFC Bank, Hindustan Unilever and State Bank of India (SBI) declined. While the market cap of ICICI Bank, Infosys, Bharti Airtel, Life Insurance Corporation of India (LIC) and ITC declined. Market position increased.
During the week, the market capitalization of HDFC Bank declined by Rs 1,22,163.07 crore to Rs 11,22,662.76 crore. HDFC Bank’s shares fell for the third consecutive day on Friday. The bank’s shares fell 12 percent during this period. The bank’s December quarter results were not as per market expectations, due to which its stock came down. However, HDFC Bank shares rose 0.54 percent in the session held on Saturday. In the week under review, the market capitalization of Reliance Industries fell by Rs 18,199.35 crore to Rs 18,35,665.82 crore. The market capitalization of Hindustan Unilever declined by Rs 17,845.15 crore to Rs 5,80,184.57 crore and that of TCS fell to Rs 14,12,613.37 crore with a loss of Rs 7,720.6 crore. The market capitalization of State Bank of India (SBI) declined by Rs 2,008.04 crore to Rs 5,63,589.24 crore.
Contrary to this trend, the market capitalization of LIC increased by Rs 67,456.1 crore to reach Rs 5,92,019.78 crore. LIC on Wednesday became the country’s most valuable public sector company, leaving behind SBI in terms of market capitalization. Bharti Airtel added Rs 26,380.94 crore during the week and its market cap reached Rs 6,31,679.96 crore. The market capitalization of Infosys increased by Rs 15,170.75 crore to Rs 6,84,305.90 crore and that of ICICI Bank increased by Rs 3,163.72 crore to Rs 7,07,373.79 crore. ITC’s market cap increased by Rs 2,058.48 crore to Rs 5,84,170.38 crore.
Reliance Industries remained at the first position in the list of top 10 companies of Sensex. After that, TCS, HDFC Bank, ICICI Bank, Infosys, Bharti Airtel, LIC, ITC, Hindustan Unilever and SBI were ranked respectively.