Last Updated on 11/08/2024 by wccexam Desk
Last week, there was a lot of turmoil in the stock market and during this time, the market value of 8 of the top 10 most valuable companies of the country fell drastically. This included Mukesh Ambani’s Reliance, the country’s largest insurance company LIC and Tata Group’s giant IT firm TCS. At the same time, there were two companies whose investors invested about 21000 crore rupees even in the falling market.
8 out of top 10 companies are in loss
Last week, the Indian stock market witnessed a sharp rise and a sharp fall the next moment. During this period, the market capitalization (MCap) of eight of the top 10 Sensex companies declined in five days of trading. There was a combined loss of Rs 1,66,954.07 crore. According to PTI, last week the BSE Sensex comprising 30 stocks fell by 1,276.04 points or 1.57 percent.
Reliance-LIC in the biggest loss
Now if we talk about the companies that suffered the most loss, then Reliance Industries, the company of Asia’s richest man Mukesh Ambani, was on the first position. Reliance MCap decreased by Rs 33,930.56 crore and it came down to Rs 19,94,765.01 crore. On the second position was LIC, whose market cap (LIC Market Cap) fell by a huge Rs 30,676.24 crore and it came down to Rs 7,17,001.74 crore.
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These companies also lost money
Apart from Reliance-LIC, SBI’s market value (SBI MCap) fell by Rs 21,151.33 crore to Rs 7,35,566.52 crore, Infosys’ market cap fell by Rs 20,973.19 crore to Rs 7,35,277.28 crore, while TCS’ market cap fell by Rs 19,157.77 crore to Rs 15,30,469.11 crore. At the same time, the value of Bharti Airtel, which is in the top-10, decreased by Rs 16,993.56 crore and Airtel MCap came down to Rs 8,33,396.32 crore.
ICICI Bank’s market capitalization (ICICI Bank Market Cap) declined by Rs 16,975.55 crore to Rs 8,25,201.23 crore, while HDFC Bank’s market capitalization fell by Rs 7,095.87 crore to Rs 12,56,505.53 crore.
These two companies are ahead in earning money
Even amidst the turmoil in the market, the two companies that showered money on their investors were Hindustan Unilever and ITC. While HUL’s market cap increased by Rs 12,946.24 crore to Rs 6,45,808.65 crore, ITC’s market cap increased by Rs 8,406.26 crore to Rs 6,19,829.37 crore. The combined market capitalization of both the companies increased by Rs 21,352 crore.
Reliance continues to dominate the number 1 position
Despite suffering huge losses last week, Reliance Industries retained its title of the country’s most valuable company. It was followed by TCS, HDFC Bank, Bharti Airtel, ICICI Bank, SBI, Infosys, LIC, Hindustan Unilever and ITC respectively.
(Note- Before making any investment in the stock market, please consult your market experts.)
Source (PTI) (NDTV) (HINDUSTANTIMES)