Market Crash: RIL And TCS Suffered A Loss Of Rs 3.91 Lakh Crore
Market crash: RIL and TCS suffered a loss of Rs 3.91 lakh crore in M-Cap to top-10 companies.
There was no enthusiasm in the Indian market in the last trading week. The market closed registering a fall of 5 percent.
The Sensex had lost 135 points in the previous trading session amid rising crude oil prices. On Friday, the BSE benchmark closed at 51,360.42, down 135.37 points or 0.26 percent.
At the same time, the NSE Nifty closed at 15,293.50, down 67.10 points or 0.44 percent. Shares of TCS and Reliance Industries were the biggest sellers.
The market valuation of the top 10 most valuable firms fell to Rs 3.91 lakh crore last week due to heavy selling.
The BSE Sensex fell 2,943.02 points or 5.42 percent in the previous trading week session, while the NSE Nifty fell 908.30 points or 5.61 percent.
This situation was created when the Federal Reserve raised interest rates for the first time since 1994.
Markets witnessed a slowdown due to rate hikes by global central banks, foreign fund outflows, and a jump in crude oil prices.
TCS and RIL’s m-cap fall.
Due to this, the market valuation of the 10 most valuable domestic firms declined by Rs 3,91,620.01 crore last week.
Among the top-10 firms, Tata Consultancy Services (TCS) remained on top as its market valuation declined by Rs 1,01,026.4 crore to Rs 11,30,372.45 crore.
At the same time, the market capitalization (m-cap) of Reliance Industries Limited (RIL) fell by Rs 84,352.76 crore to Rs 17,51,686.52 crore.
Market valuation of Infosys, LIC, and HDFC slashed.
Apart from this, the valuation of Infosys declined by Rs 37,656.62 crore to Rs 5,83,846.01 crore and that of Life Insurance Corporation (LIC) declined by Rs 34,787.49 crore to Rs 4,14,097.60 crore.
HDFC Bank’s market valuation fell by Rs 33,507.66 crore to Rs 7,16,373.13 crore and that of HDFC fell by Rs 22,977.51 crore to Rs 3,72,442.63 crore.
How about other companies.
ICICI Bank’s map declined by Rs 22,203.69 crore to Rs 4,78,540.58 crore and that of Hindustan Unilever (HUL) declined by Rs 20,535.43 crore to Rs 4,96,351.15 crore.
State Bank of India (SBI) m-cap declined by Rs 18,563.19 crore to Rs 3,93,575.37 crore and that of Bharti Airtel declined by Rs 16,009.26 crore to Rs 3,53,604.18 crore.
Ranking of Top 10 Firms.
Reliance Industries remained the most valuable company in the ranking of top-10 firms. It was followed by TCS, HDFC Bank, Infosys, HUL, ICICI Bank, LIC, SBI, HDFC, and Bharti Airtel.
