The Sensex lost 900 plus points in just 2 trading days which led decline in the market cap of India’s top 10 companies. All total the market value dropped by rupees 70,961.76 Cr with RIL being the biggest loser in terms of decline in its market value. One of India’s most valuable companies Reliance Industries market cap dropped by rupees 18565 Cr to rupees 252361 Cr in the last week.
The company’s share price also plunged by 6.85 percent.The Government owned Coal India market capital declined by rupees 7,611.32 Cr to rupees 231305 Cr. Oil and natural gas explorer had the second largest cut in its market cap which presently stands at rupees 220560 Cr a dip of Rs 14459.04 Cr.FMCG leader ITC lost rupees 5046.92 Cr market Cap to close at rupees 148750 Cr
Bharti Airtel was also not sparred from the hit and it lost rupees 4177.31 Cr to rupees 142350 Cr. In the power utility space NTPC market cap shed by rupees 4576.91 Cr to rupees 137245 Cr.Infosys and TCS together shed rupees 10456.26 Cr. While Infosys market value of rupees 134365 Cr and TCS market value of rupees 194038 Cr.
The market value of HDFC bank fell by rupees 6069 Cr to rupees 106825 CrThe biggest Bank of India had an addition in its market cap adding 633.52 Cr to its market cap which stands at rupees 124174 Cr. The Sensex fell by 772 points or 4.55 percent to end the week and closed at 16162.06 points
Bell the Bull says: Last week saw most the heavy weights were the ones to plunge huge contributing largely to the fall last week