InvestorQ : How did the index heavyweights like TCS, RIL, HUL, Infosys and HDFC Bank perform in the month of July 2020?
Dilmini Mercia made post

How did the index heavyweights like TCS, RIL, HUL, Infosys and HDFC Bank perform in the month of July 2020?

Answer
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Khushi Patel answered.
2 months ago


It was a week in which large cap stocks were predominantly in the negative even as the IT sector continued to hold fort. Six out of the 10 most valuable companies on the Nifty saw value erosion to the tune of Rs.138,840 crore during the week. Among them, the two major losers were Reliance which lost Rs.50,140 crore of market cap and HDFC Bank which lost Rs.46,374 crore in market cap.

There was some pressure on RIL stock after big institutional names downgraded the stock price target. HDFC Bank has already been under immense pressure after a string of top management exits and concerns over practices at its car loans division. Among heavyweights, ICICI Bank, HDFC, ITC and Bharti Airtel were among other major losers.

In terms of gainers, it was all about technology stocks. TCS added Rs.47,055 crore to its market cap while the quarterly results star Infosys saw Rs.18,592 crore accretion to market cap. Technology stocks have got a leg up after positive guidance from Infosys. In the month of July alone, the IT index was the top performer with returns of 22%.