What happened
Eight of India’s 10 most valuable listed companies lost a combined ₹1,55,671.9 crore in market value last week, according to reports by PTI carried in the Economic Times, CNBC-TV18 and BusinessLine. HDFC Bank and Bajaj Finance accounted for most of the losses.
It was a holiday-truncated week with four sessions. The 30-share BSE Sensex fell 1,605.44 points, or 2.15%. The 50-share NSE Nifty dropped 546.15 points, or 2.36%.
The total market capitalisation (the market value of all a company’s shares) of BSE-listed firms fell by ₹20,78,774.28 crore over the four sessions. It stood at ₹4,51,83,393.14 crore, down from ₹4,72,62,167.42 crore on 16 October.
Company-wise moves
| Company | Change in mcap (₹ crore) | New mcap (₹ crore) |
|---|---|---|
| HDFC Bank | -55,506.95 | 10,67,121.12 |
| Bajaj Finance | -34,180.51 | 5,77,146.21 |
| Reliance Industries | -27,065.08 | 16,10,372.11 |
| LIC | -21,062.24 | 4,81,142.58 |
| Bharti Airtel | -9,360.75 | 11,79,454.70 |
| State Bank of India | -4,338.46 | 8,83,384.38 |
| Infosys | -2,881.38 | 4,68,528.03 |
| ICICI Bank | -1,276.53 | 10,01,594.91 |
| TCS | +23,517.56 | 9,14,652.52 |
| Larsen & Toubro | +1,788.66 | 5,01,513.72 |
HDFC Bank’s share price fell 5% during the week.
Reliance Industries kept the top spot by value. Bharti Airtel ranked second and HDFC Bank third. ICICI Bank, TCS, State Bank of India, Bajaj Finance, L&T, LIC and Infosys filled the remaining places in that order.
What it means for you
Market capitalisation is the share price multiplied by the number of shares, so it moves whenever prices move. A fall in mcap is a change in market value, not money paid out by the company.
If you hold index funds or SIPs tracking the Sensex or Nifty, the weekly fall shows up in your portfolio value. You can use the SIP Calculator to see how regular investments behave over longer periods. One week’s move says little about long-term results.
Background
Weekly mcap tables are compiled from the closing valuations of the 10 most valuable firms. Because stock prices change daily, the rankings and values can shift from one week to the next.
