InvestorQ : How did the most valuable companies on the Nifty fare during the previous week ended on 04 September?
Dilmini Mercia made post

How did the most valuable companies on the Nifty fare during the previous week ended on 04 September?

Answer
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Dawn Cherian answered.
3 weeks ago


During the week ended 04 September, a total of 8 out of the top 10 most valuable companies in terms of market capitalization in India lost a net value of Rs.111,800 crore in a single week as the sharp correction on Friday took a massive toll on frontline stocks.

The two exceptions were TCS and HDFC Bank which managed to close the week with minor gains. Among the big losers, ICICI Bank took the biggest hit of Rs.255 billion followed by RIL which took a hit of Rs.242 billion.

Among the other big losers in value were HDFC and Kotak Bank which lost Rs.202 billion and Rs.176 billion respectively during the full week. ITC, Infosys, Hindustan Unilever and Bharti were other stocks to lose market cap sharply in the week.

The sharp fall in value on Friday happened after the global markets led by NASDAQ, corrected sharply on Friday. The Sensex fall of 633 points was largely driven by the global cues and worries that the loan restructuring package would be credit negative for banks.