Market capitalization of five of the top 10 Sensex companies decreased by Rs 1.98 lakh crore.
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New Delhi. The market capitalization (market cap) of five of the top 10 most valuable Sensex companies collectively declined by Rs 1,97,958.56 crore last week. The biggest losers in the volatile business were information technology sector companies Tata Consultancy Services (TCS) and Infosys. Last week, the 30-share BSE Sensex gained 188.51 points or 0.25 percent. The market valuation of TCS declined by Rs 1,10,134.58 crore during the week to Rs 14,15,793.83 crore. TCS suffered the most loss.
Infosys’ market cap declined by Rs 52,291.05 crore to Rs 6,26,280.51 crore. Shares of IT companies fell on Friday after technology giant Accenture reduced its revenue estimates for 2023-24. The market valuation of Hindustan Unilever declined by Rs 16,834.82 crore to Rs 5,30,126.53 crore and that of Life Insurance Corporation (LIC) declined by Rs 11,701.24 crore to Rs 5,73,266.17 crore. The market capitalization of HDFC Bank declined by Rs 6,996.87 crore to Rs 10,96,154.91 crore.
Contrary to this trend, the valuation of Reliance Industries Limited increased by Rs 49,152.89 crore to reach Rs 19,68,748.04 crore. State Bank of India (SBI) added Rs 12,851.44 crore during the week and its market capitalization reached Rs 6,66,133.03 crore. ITC’s market cap increased by Rs 11,108.51 crore to Rs 5,34,768.59 crore.
Bharti Airtel’s valuation stood at Rs 6,98,855.66 crore, a jump of Rs 9,430.48 crore. The market capitalization of ICICI Bank increased by Rs 8,191.79 crore to reach Rs 7,65,409.98 crore. Reliance Industries remained at first position in the list of top 10 companies. It was followed by TCS, HDFC Bank, ICICI Bank, Bharti Airtel, State Bank of India, Infosys, LIC, ITC and Hindustan Unilever respectively.
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