Comments
The combined market capitalisation (m-cap) of top-five Sensex companies declined by Rs 24,015 crore last week amid a sluggish broader market, with energy majors RIL and ONGC taking the biggest hit.
The market value of Reliance Industries Ltd (RIL) slipped by Rs 9,152 crore to Rs 2,43,626 crore in the week gone by, while ONGC lost Rs 5,133 crore from its m-cap which was at Rs 2,28,688 crore during the trading week.
Coal India’s value plunged by Rs 4,800 crore to Rs 2,11,377 crore, SBI shed Rs 3,981 crore from its valuation which was at Rs 1,37,493 crore, while NTPC lost Rs 949 crore to Rs 1,41,450 crore.
In contrast to the losses suffered by these companies, others like TCS, ITC, Infosys, Bharti Airtel and HDFC Bank saw rise in their market worth.
IT bellwether TCS added Rs 3,366 crore to its m-cap which stood at Rs 2,31,871 crore, while rival Infosys’ value jumped Rs 246 crore to Rs 1,64,820 crore.
Experts said IT stocks gained due to a strong dollar that will help the software exporters clock better realisations. .
“Rising dollar rates are expected to be good for Indian IT companies,” Inventure Growth and Securities head, research, Milan Bavishi said.
The m-cap of ITC advanced by Rs 4,956 crore to Rs 1,73,633 crore, Bharti added Rs 3,304 crore taking its value to Rs 1,27,483 crore and HDFC Bank saw a jump of Rs 1,442 crore in its market worth which was at Rs 1,20,428 crore.
The BSE barometer Sensex fell by 104.46 points to 17,361.74 during the week.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.