InvestorQ : How did the most valuable companies on the NSE perform in the week ending 28 August?
Priyanka N made post

How did the most valuable companies on the NSE perform in the week ending 28 August?

Answer
user profile image
Neelam Naik answered.
4 weeks ago


Out of the ten most valuable companies on the Nifty, six managed to add a total of Rs.106,000 crore in market cap during the week. That is surely a huge number and the action was largely concentrated in banks.

ICICI Bank was the biggest value enhancer adding Rs.26,620 crore while Kotak Bank added Rs.25,360 crore. Anticipating the Future group deal, Reliance market value increased by Rs.21,458 crore. On the banks story, HDFC Bank saw Rs.16,547 crore market cap accretion.

Value losers in value terms were much smaller, which probably explains the net value accretion by the big boys of the market. Among the losers were stocks like HUL, ITC, Infosys and TCS. Only HUL saw a rather substantial loss of Rs.Rs.11,983 crore during the week.

The two IT big boys, Infosys and TCS, lost another Rs.10,000 crore between them. ITC was another stock that was weak underlining that the action during the week belonged to the banks even as defensives like IT and FMCG stayed in the sidelines of the rally.