InvestorQ : What were the key stocks that drove the index lower in the previous week ending 19 February?
manisha Kolvenkar made post

What were the key stocks that drove the index lower in the previous week ending 19 February?

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Crowny Pinto answered.
3 months ago
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One way to get a quick picture of the stock market performance in the week is to look at how the 10 most valuable stocks in terms of market capitalization performed in the market. Here are some of the highlights of the week just gone by.

· During the week ended on 19 February, if you look at the top ten most valuable stocks, then 8 out of the top-10 most-valuable companies witnessed erosion in value.

· In fact, between them, these 10 stocks saw market value depletion of Rs.123,670 crore with banks coming under immense pressure and taking a big hit during the week.

· There were two heavyweight gainers during the week which included Reliance adding Rs.24,914 crore in terms of market cap and State Bank of India adding Rs.5,489 crore.

· If you look at the other 8 stocks that saw the maximum erosion in value, the biggest laggard for the week was TCS which saw its market value fall by Rs.44,672 crore.

· The other prominent market cap losers included ICICI Bank losing Rs.16,146 crore, Hindustan Unilever losing Rs.14,274 crore and HDFC losing Rs.9,408.

· With TCS under pressure, Infosys was obviously not spared and that stock also came under pressure losing nearly Rs.7,735 in market cap during the week.

· There were smaller losses of Rs.4,667 crore in the case of Bajaj Finance and a much more modest value loss of Rs.2,803 crore in Kotak Bank.

· The pressure was most visible in the case of banks, as this sector had rallied sharply in the post-budget rally. However, the SOTP story kept SBI during the week.

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