Heavy fall in stock market causes loss of ₹1,66,954 crores

Business Business: Last week, the market capitalization of eight of the country’s 10 most valuable companies declined by a total of Rs 1,66,954.07 crore. Of these, Reliance Industries and Life Insurance Corporation of India (LIC) suffered the most. The benchmark BSE Sensex fell 1,276.04 points or 1.57 percent last week amid weak global trends. During this period, the market capitalization of the country’s most valuable company Reliance Industries Limited (RIL) fell by Rs 33,930.56 crore to Rs 19,94,765.01 crore. At the same time, Reliance suffered the biggest loss among the 10 largest companies last week.

Last week, the market value of the country’s largest insurance company LIC also fell by Rs 30,676.24 crore to Rs 7,17,001.74 crore. During this period, the value of State Bank of India (SBI) fell by Rs 21,151.33 crore to Rs 7,35,566.52 crore.

At the same time, the market value of information technology (IT) company Infosys fell by Rs 20,973.19 crore to Rs 7,35,277.28 crore. The market value of Tata Group’s IT company Tata Consultancy Services (TCS) fell by Rs 19,157.77 crore to Rs 15,30,469.11 crore. The market capitalization of Bharti Airtel fell by Rs 16,993.56 crore to Rs 8,33,396.32 crore and the market capitalization of ICICI Bank fell by Rs 16,975.55 crore to Rs 8,25,201.23 crore. The valuation of private HDFC Bank fell by Rs 7,095.87 crore to Rs 12,56,505.53 crore.

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However, the market capitalization of Hindustan Unilever increased by Rs 12,946.24 crore to Rs 6,45,808.65 crore. The valuation of ITC also increased by Rs 8,406.26 crore to Rs 6,19,829.37 crore.

Despite heavy losses last week, Reliance Industries has retained the title of the country’s most valuable company. It was followed by TCS, HDFC Bank, Bharti Airtel, ICICI Bank, SBI, Infosys, LIC, Hindustan Unilever and ITC.