InvestorQ : How did the heavyweight stocks perform in the last week ended 26th August?
vaishnavi mhatre made post

How did the heavyweight stocks perform in the last week ended 26th August?

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vidhya Laxmi answered.
2 months ago
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If you look at the performance of the stocks in the previous week ending on 26th of August, a total of 7 out of the top-10 most valuable companies on the NSE or nearly 70% of the companies by market capitalization saw erosion in value. The total erosion of the top stocks in the week was to the tune of Rs154,477 crore. There was not much of a surprise as IT stocks were among the top losers in the previous week, especially with talks about cost cuts and holding back of bonuses and variable pay by the IT companies.

The major heavyweight losers were also from the IT sector. Among top losers were TCS which saw its market cap fall by Rs59,862 crore during the week while Infosys faced a market cap depletion of Rs31,789 crore during the week. Among other major losers, HDFC Bank gave up Rs16,091 crore, Hindustan Unilever ceded Rs14,814 crore in value, Bajaj Finance gave up Rs14,430 crore, HDFC was down Rs13,032 crore and LIC also lost Rs4,459 crore. Gainers were subdued with Reliance gaining Rs3,501 crore and SBI Rs3,034 crore.

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