Winning Bizness Desk
Mumbai: The market capitalization (market cap) of the top 10 Sensex companies fell by Rs 3.91 lakh crore last week amid strong selling in the stock markets. Tata Consultancy Services (TCS) and Reliance Industries suffered the most. Last week, the 30-share BSE Sensex fell 2,943.02 points or 5.42 per cent. On the other hand, the Nifty of the National Stock Exchange lost 908.30 points or 5.61 percent. The sell-off in the market has continued for the past several sessions on the back of hike in interest rates by central banks, foreign fund outflows and jump in crude oil prices globally. The market capitalization of the top 10 Sensex companies collectively declined by Rs 3,91,620.01 crore last week.
TCS suffered the most
TCS suffered the most in the last week. The market valuation of TCS declined by Rs 1,01,026.4 crore to Rs 11,30,372.45 crore. The market position of Reliance Industries declined by Rs 84,352.76 crore to Rs 17,51,686.52 crore. Infosys was valued at Rs 5,83,846.01 crore with a loss of Rs 37,656.62 crore and that of Life Insurance Corporation of India (LIC) at Rs 4,14,097.60 crore with a loss of Rs 34,787.49 crore. HDFC Bank's market position declined by Rs 33,507.66 crore to Rs 7,16,373.13 crore and that of HDFC by Rs 22,977.51 crore to Rs 3,72,442.63 crore.
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The market capitalization of ICICI Bank declined by Rs 22,203.69 crore to Rs 4,78,540.58 crore. Hindustan Unilever's (HUL) valuation declined by Rs 20,535.43 crore to Rs 4,96,351.15 crore. State Bank of India (SBI) market position declined by Rs 18,563.19 crore to Rs 3,93,575.37 crore and that of Bharti Airtel by Rs 16,009.26 crore to Rs 3,53,604.18 crore. Reliance Industries retained the first position in the list of top 10 companies. It was followed by TCS, HDFC Bank, Infosys, Hindustan Unilever, ICICI Bank, LIC, SBI, HDFC and Bharti Airtel respectively.