InvestorQ : How did the large heavyweights in the Nifty fare in the last week?
Moii Chavate made post

How did the large heavyweights in the Nifty fare in the last week?

diksha shah answered.
2 years ago

It was a weak when the Nifty and Sensex lost close to 2.6% so you can jolly well imagine that losses on the stocks would also be substantially high. In fact, barring Kotak Mahindra Bank which added value during the week; rest of the heavyweights actually saw depletion in value.

If you were to look at the top ten Indian companies by market capitalization on the NSE 9 out of the 10 stocks with heft in the Nifty actually saw value erosion to the tune of Rs.163,500 crore. This is a largely ETF and leveraged position unwinding situation.

Kotak Bank was the sole gainer among the 10 most valuable companies in India by market capitalization. It added a total of Rs.32,571 crore in market value during the week. This was after the company announced stellar results with profit growth much better than expected.

Otherwise, the market correction was almost agnostic to sectors as positions were unwound across the board. The biggest value loss was seen in RIL which lost Rs.39,355 crore of value in the week after the Singapore arbitrator order in favour of Amazon threatened to spook the Reliance – Future merger deal.

Among the other heavy weights, HDFC Bank lost Rs.28,575 crore while Infosys lost Rs.26,152 crore. Among the other major heavyweights; HDFC, ICICI Bank, HUL and TCS lost Rs.70,000 crore between them. Most of the heavyweights barring HDFC have already announced their quarterly results for the Sep-20 quarter.