The past week was challenging for the Indian stock market. The Sensex witnessed a significant decline of approximately 932 points, and its impact was clearly visible on the country's top companies. The market value of eight out of the top-10 companies on the Bombay Stock Exchange experienced a sharp fall, resulting in a loss of around ₹2.07 lakh crore for investors.
TCS and Airtel Faced the Biggest Losses
Tata Group's IT company, TCS, suffered the most significant losses in this list. Its share price fell by 3.50 percent during the past week, and the company's market capitalization decreased to ₹11.81 lakh crore. This resulted in a setback of ₹56,279 crore for the company. Furthermore, Bharti Airtel's value also declined by ₹54,483 crore, reaching ₹10.95 lakh crore.
Reliance Also Suffered Losses, Yet Remained at the Top
Reliance Industries, the country's largest company, also incurred substantial losses. The company's market cap decreased by ₹44,048 crore, settling at ₹20.22 lakh crore. Despite this, Reliance maintained its position at the top of the list of top companies.
Impact on ICICI Bank, LIC, HDFC, and SBI
The weakness in the market also affected the country's leading banks and insurance companies. ICICI Bank's market cap decreased by ₹14,556 crore, now standing at ₹10.14 lakh crore. Simultaneously, LIC's value fell by ₹11,954 crore to ₹5.83 lakh crore. HDFC Bank lost approximately ₹4,370 crore, and SBI experienced a loss of about ₹2,990 crore.
Infosys Also Hit, Market Value Declined
Infosys, another major company in the IT sector, also suffered losses during the past week. The company's market cap decreased by ₹18,818 crore, reaching ₹6.62 lakh crore. This decline occurred at a time when better performance was anticipated from the market.
HUL and Bajaj Finance Showed Impressive Performance Amidst the Decline
While major companies in the market were incurring losses, there were two companies that generated substantial profits for their investors. The FMCG sector's leading company, Hindustan Unilever Limited (HUL), saw its market value increase by ₹42,363 crore, reaching ₹5.92 lakh crore. Simultaneously, Bajaj Finance's market cap rose by ₹5,033 crore, reaching ₹5.80 lakh crore.
₹47,000 Crore Earned in Five Days
In just five trading days, HUL and Bajaj Finance together added a market value of ₹47,000 crore. While the value of other companies was rapidly declining, these two companies worked to provide stability in the market and relief to investors.
Top-10 Companies by Market Cap
Despite the fluctuations of the past week, Reliance Industries remained the country's largest company based on market capitalization. Following this were HDFC Bank, TCS, Bharti Airtel, ICICI Bank, SBI, Infosys, LIC, Bajaj Finance, and HUL.
A Mixed Week for Investors
The previous week brought both gains and losses for investors. On one hand, giants like Reliance, TCS, and Airtel saw a decline, while on the other hand, stocks like HUL and Bajaj Finance showed strength. This makes it clear that even in a declining market, some companies managed to provide profits to investors.
