How did the Nifty heavyweight stocks behave in the previous week ended 17-December?
Answer
Answer
For the week ended on Friday the 17th of December, the trend was obviously negative with a total of 8 stocks out of the top-10 most valuable companies on Nifty losing market value. The overall wealth erosion in these companies was to the tune of Rs.261,812 crore. The on sector that stood out was IT, with Infosys and Wipro being the sole gainers in the top 10 stock list. Reliance lost Rs.79,658 crore as the dilution impact of the rights set in.
Among others, financials were hit the most. HDFC lost Rs.34,690 crore, Bajaj Finance ceded Rs. 33,152 crore, HDFC Bank gave up Rs.27,298 crore, Hindustan Unilever fell Rs.24,083, SBI also lost close to Rs.24,052 crore and ICICI Bank Rs.20,623 crore. Surprisingly, even TCS lost Rs.18,252 crore last week. Among gainers; Infosys gained Rs.26,516 crore and Wipro added Rs.17,450 crore. Wipro gained on replacing Bajaj Auto in the Sensex.