The Market Cap Of TCS Declined By Rs 99,270.07 Crore
The market cap of TCS declined by Rs 99,270.07 crore. The market cap of six of the top 10 Sensex companies decreased by Rs 1.68 lakh crore, understanding the market trend.
The market cap of six of the top 10 Sensex companies collectively fell by Rs 1,68,260.37 crore last week.
Information technology (IT) giant Tata Consultancy Services (TCS) suffered the most. Last week, the 30-share BSE Sensex fell 721.06 points or 1.32 percent.
The market cap of TCS declined by Rs 99,270.07 crore to Rs 10,95,355.32 crore in the week under review. The company’s June quarter results have not been in line with market expectations.
Due to this, the company’s shares came down. Another information technology company Infosys market cap declined by Rs 35,133.64 crore to Rs 6,01,900.14 crore.
Loss to banks.
HDFC Bank’s market position declined by Rs 18,172.43 crore to Rs 7,57,659.72 crore and that of State Bank of India (SBI) at Rs 4,27,488.90 crore with a loss of Rs 8,433.76 crore.
During the week under review, HDFC’s market cap fell by Rs 4,091.62 crore to Rs 4,02,121.99 crore and that of ICICI Bank by Rs 3,158.85 crore to Rs 5,22,498.11 crore.
Contrary to this trend, the market cap of Hindustan Unilever increased by Rs 17,128.52 crore to Rs 6,03,551.26 crore.
The market valuation of Reliance Industries rose by Rs 6,801.72 crore to Rs 16,24,681.08 crore.
ITC’s market cap increased.
The market position of ITC increased by Rs 1,318.81 crore to Rs 3,62,327.81 crore and that of Life Insurance Corporation (LIC) by Rs 316.25 crore to Rs 4,48,157.71 crore.
Reliance Industries retained the first position in the list of top 10 companies. It was followed by TCS, HDFC Bank, Hindustan Unilever, Infosys, ICICI Bank, LIC, SBI, HDFC, and ITC respectively.
There is a cautious attitude of foreign investors regarding the Indian stock markets. So far this month, foreign portfolio investors (FPIs) have withdrawn more than Rs 7,400 crore from the stock markets.
Fears of recession in the US and continued strengthening of the dollar have made FPI sellers. However, the pace of selling of FPIs has slowed down a bit.
