ITC made profits to investors even in the falling stock market, from HDFC
Infosys' valuation declined by Rs 13,465.86 crore to Rs 6,52,862.70 crore. The market capitalization of Bharti Airtel declined by Rs 10,729.2 crore to Rs 4,22,034.05 crore.
The market capitalization (market cap) of nine out of 10 most valuable companies collectively declined by Rs 1,87,808.26 crore last week. HDFC Bank and Reliance Industries suffered the most. Last week, the 30-share BSE Sensex fell 1,538.64 points or 2.52 per cent. There is concern in the market that due to inflation, the US central bank may increase the interest rates further. Apart from this, the withdrawal of foreign funds also affected the market sentiment. Barring ITC, all other companies in the top 10 declined in market valuation during the week under review.
The market valuation of HDFC Bank declined by Rs 37,848.16 crore to Rs 8,86,070.99 crore during the week. The market cap of Reliance Industries declined by Rs 36,567.46 crore and stood at Rs 16,14,109.66 crore. The market capitalization of Tata Consultancy Services (TCS) declined by Rs 36,444.15 crore to Rs 12,44,095.76 crore and that of HDFC declined by Rs 20,871.15 crore to Rs 4,71,365.94 crore. ICICI Bank's market cap declined by Rs 15,765.56 crore to Rs 5,86,154.58 crore. Infosys' valuation declined by Rs 13,465.86 crore to Rs 6,52,862.70 crore. The market capitalization of Bharti Airtel declined by Rs 10,729.2 crore to Rs 4,22,034.05 crore.
The market valuation of State Bank of India (SBI) declined by Rs 8,879.98 crore to Rs 4,64,927.66 crore. The market cap of Hindustan Unilever declined by Rs 7,236.74 crore to Rs 5,83,697.21 crore. In contrast to the trend, the market capitalization of ITC surged by Rs 2,143.73 crore to Rs 4,77,910.85 crore. Reliance Industries retained the first position in the list of top 10 companies. It was followed by TCS, HDFC Bank, Infosys, ICICI Bank, Hindustan Unilever, ITC, HDFC, SBI and Bharti Airtel respectively.