Stock Market: The combined market capitalization of the country’s 10 most valuable companies decreased by Rs 2.09 lakh crore last week amid a weak trend in the stock market. Reliance Industries and TCS suffered the most in this. On a weekly basis, the BSE’s 30-share index Sensex declined by 1,145.23 points, or 1.93 per cent. The market capitalization of Reliance Industries declined by Rs 67,722.33 crore to Rs 15,04,001.93 crore.
TCS market cap biggest decline
On the other hand, the market capitalization of TCS decreased by Rs 55,654.17 crore to Rs 11,63,194.14 crore. The market capitalization of Infosys declined by Rs 21,250.8 crore to Rs 5,97,905.17 crore. The market capitalization of State Bank of India (SBI) declined by Rs 16,108.93 crore to Rs 4,72,290.46 crore while that of ITC declined by Rs 15,226.12 crore to Rs 4,66,696.21 crore.
The market cap of Bharti Airtel also fell
Market capitalization of major telecom company Bharti Airtel declined by Rs 9,053.44 crore to Rs 4,22,177.07 crore while that of HDFC Bank declined by Rs 8,982.11 crore to Rs 8,77,318.09 crore. The market capitalization of HDFC Ltd also declined by Rs 8,063.79 crore to Rs 4,69,460.45 crore.
Market valuation of ICICI Bank and HUL declined
Private sector ICICI Bank’s market capitalization declined by Rs 4,396.91 crore to Rs 5,83,983.07 crore while that of Hindustan Unilever Limited (HUL) declined by Rs 3,465.65 crore to Rs 5,75,273.92 crore.
Reliance is the most valuable company
According to NSDL data, after the end of business on March 17, FPI investment in equities so far this month is Rs 11,495 crore. Earlier, after the week ending March 10, the FPI investment figure during the month of March was Rs 13,450 crore. This means that during this week i.e. March 13 to March 17, FPIs pulled out Rs 7,953.68 crore from the Indian market, due to which their net investment decreased by Rs 2,045 crore.
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