How did the high value stocks perform in the previous week and were there any surprises?

It was a rather mixed performance by the heavyweights in the truncated previous week of trading. For the week that ended on 13th April, a total of 7 out of the 10 most valuable companies by market cap in the Indian stock markets, saw value erosion of Rs.132,536 crore. Reliance, Infosys and the HDFC twins were among the big value losers. Reliance took the biggest hit, losing Rs.43,491 crore, followed by Infosys losing Rs.27,954 crore.

Among others, HDFC Bank gave up Rs.27,866 crore in market cap, HDFC Rs.14,631 crore, TCS lost Rs.9,349 crore and Hindustan Unilever depleted Rs.7,119 crore. In contrast to the losers, the big gainer during the week was Adani Green Energy, which added Rs.84,582 crore in market capitalization during the week. This was followed by ICICI Bank gaining Rs.5,559 crore in value. Overall, the Nifty and Sensex were down nearly 1.75% in the week.