The sharp fall in the stock market last week increased the concern of investors. Sensex slipped badly due to weakness in global cues, profit-booking and pressure in IT and banking stocks. Its impact was clearly visible even on the most valuable companies of the country. The situation was such that there was a huge decline in the market cap of 9 out of the top 10 Sensex companies and overall investors’ wealth decreased by about Rs 2.51 lakh crore.
Big fall in Sensex, pressure on market
Last week the Sensex fell by 2,032.65 points. This weakness of the market did not spare even largecap and bluechip stocks. Selling was seen in big stocks of banking, IT and telecom sectors, which had a direct impact on the market cap of top companies.
Biggest blow to Reliance
Reliance Industries suffered the biggest loss in this decline. The market cap of the company declined by ₹96,960 crore to ₹18.75 lakh crore. Apart from this, the market cap of ICICI Bank declined by ₹48,645 crore, while HDFC Bank suffered a loss of about ₹22,923 crore. The market cap of Tata Consultancy Services (TCS), Bharti Airtel, L&T, Bajaj Finance, SBI and Infosys also witnessed a decline of thousands of crores.
Only one company saved its shame
When most of the big companies had to suffer losses, Hindustan Unilever showed strength amid the market weakness. The company’s market cap increased by ₹12,312 crore to ₹5.66 lakh crore. This was the only company among the top-10 companies, which gave relief to investors.
Current situation of top-10 companies
In terms of market cap, Reliance Industries still remains at the first position. After this comes HDFC Bank, TCS, Bharti Airtel, ICICI Bank, State Bank of India, Infosys, Bajaj Finance, Hindustan Unilever and Larsen & Toubro.
Eye on IPO and listing in the new week
In the coming week, investors will also keep an eye on the listing of new shares. Shares of Shadowfax Technologies may be listed on BSE and NSE on January 28. Digilogic Systems is expected to enter BSE SME on the same day. Shares of KRM Ayurveda can enter the market on 29th January and Hannah Joseph Hospital and Shayona Engineering on 30th January.
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