InvestorQ : How did the index heavy stocks perform in the previous week ended 26 March?
vaishnavi mhatre made post

How did the index heavy stocks perform in the previous week ended 26 March?

Answer
image
vidhya Laxmi answered.
2 months ago
Follow

In terms of heavyweight returns, this was the third successive week of disappointing returns with losers outnumbering the winners. For the week ended 26 March, a total of 7 out of the 10 most valuable companies listed on the NSE by market cap saw their market capitalization erode to the tune of Rs.108,000 crore.

Ironically, concerns over valuation and lack of clarity on how the liquidity will be utilized by the company led to Reliance Industries alone accounted for nearly half of these losses for the week. That was hardly surprising considering that Sensex itself had lost close to 850 points during the week.

Reliance Industries lost market value of Rs.55,565 crore while Bajaj Finance, the most valuable company in the Bajaj Group, plunged Rs.16,198 crore. Concerns over the rising incidence of bad loans led to the SBI losing market value of Rs.12,494 crore during the week. However, it was also a case of some correction after a frenetic rally.

Other losers during the week included Kotak Bank Rs.11,682 crore, ICICI Bank Rs.5,468 crore and Infosys Rs.3,752 crore. Banks and financials were clearly under a lot of pressure during the week as was also evident from the performance of the Bank Nifty index. There were minor gains from TCS worth Rs.1,813 crore and HUVR worth Rs.364 crore, but there were largely insignificant in a week when the overall sentiments were tepid to negative.

0 Views