InvestorQ : How did the heavyweights perform on the stock markets in the previous week ended 01st July 2022?
Katherine Gonsalves made post

How did the heavyweights perform on the stock markets in the previous week ended 01st July 2022?

Answer
image
rhea Babu answered.
1 month ago
Follow

If you consider the 10 most valuable companies on the National Stock Exchange in terms of their market capitalization, then 3 of the 10 most valued domestic companies saw market cap erosion of Rs73,631 crore last week. The maximum pressure, needless to say, came from the oil sector after the government imposed a windfall tax on the domestic production as well as the export of oil. The idea was to make the upstream players partially fund the higher costs that the consumers end up paying for petrol and diesel.

The single biggest depletion in market cap came from Reliance Industries Ltd which saw a market value depletion of Rs62,101 crore with the entire fall coming on the last day of the week after the announcement of the windfall tax. Among the other companies to see depletion in their market capitalization, ICICI Bank's valuation fell by Rs6,654 crore while the valuation of FMCG major, Hindustan Unilever Ltd dipped by Rs4,876 crore during the week. Of course, ONGC also saw a major value dip, but it does not figure in 10 most valuables.

There were several gainers too during the week. For example, the market value of Infosys jumped Rs15,173 crore during the week while SBI saw market cap accretion of Rs11,200 crore during the week gone by. Surprisingly, even the Life Insurance Corporation of India (LIC) saw an accretion in value (for a change) by Rs9,519 crore during the week while TCS gained value to the tune of Rs8,489 crore. Among other heavyweights, HDFC Ltd and Bharti Airtel also managed to add smaller value during the week gone by.

7 Views