InvestorQ : How did the big heavyweights on the index perform in the previous week ended on 26 February 2021?
shrinidhi Rajan made post

How did the big heavyweights on the index perform in the previous week ended on 26 February 2021?

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1 month ago
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During the week ended 26 February, it was observed that 9 out of top 10 most valuable companies in terms of market capitalization on the NSE lost value to the tune of Rs.219,920 crore. On Friday itself, the Sensex and Nifty corrected 3.8% and this was more than the 3% loss during the entire week underlining the fact that Friday was the day that really underlined the pressure on the markets very clearly.

In terms of specific stocks, Reliance Industries was the only stock to gain value during the week among the heavyweights. TCS lost Rs.81,506 crore while India’s largest private sector bank, HDFC Bank, lost Rs.32,202 crore. There were other big losers in the week too. For example, HDFC lost Rs.35,390 crore, ICICI Bank Rs.18,099 crore, Infosys lost Rs.16,614 crore and HUVR shareholders became poorer during the week by Rs.11,536 crore.

Financials remained the most under pressure. Bajaj Finance and Kotak Bank, extremely strong and nimble-footed players in the NBFC and banking space respectively, lost over Rs.46,000 crore between them in terms of market capitalization. SBI saw minimal damage while Reliance gained a paltry Rs.2,092 crore. Bond yields and the return of geopolitical risk were the key factors although bond yields was the reason for the fall.

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