InvestorQ : How did the most liquid stocks on the NSE fare last week?
indhumathi Sayani made post

How did the most liquid stocks on the NSE fare last week?

2 weeks ago

In the previous week ended on 16th September, a total of 6 out of the top-10 most valuable companies in India by market capitalization suffered total combined value erosion of Rs200,281 crore. The losses were led by IT frontline stocks after the Goldman Sachs downgrade of frontline IT stocks like Infosys and TCS over top line concerns amidst rising rates in the US and other parts of the developed world. That is not surprising considering that the US yield curve is already inverted and UK and EU are likely to weaken in 2022.

Among the major stock market losers in terms of specific stocks, TCS lost Rs76,346 crore in market value while Infosys lost Rs55,832 crore; accounting for a bulk of the market value depletion during the week. Other market cap losers included Reliance at Rs46,852 crore, Hindustan Unilever losing Rs14,015 crore, HDFC Ltd Rs4,621 crore and HDFC Bank giving up Rs2,615 crore. There were gainers too. Adani Transmission gained Rs17,720 crore, SBI Rs7,274, Bajaj Finance added Rs6,436 crore while ICICI Bank gained Rs5,287 crore.