Share Market Update: The market capitalization of seven of the top 10 companies declined by Rs 2.11 lakh crore due to all-round sell-off in the stock market last week. HDFC, HDFC Bank and Hindustan Unilever were the most affected during this period.
The Sensex lost 1,524.71 points or 2.72 per cent in the week, shortened by the holidays, amid rising tensions between Russia and Ukraine, rising oil prices and heavy selling by foreign investors. The market capitalization of seven of the top 10 companies combined fell by Rs 2,11,155.03 crore.
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Banking shares also fell
During this period, the market capitalization of HDFC Bank declined by Rs 49,321.79 crore to Rs 7,57,610.16 crore. The market capitalization of Hindustan Unilever Limited declined by Rs 35,396.59 crore to Rs 4,74,593.94 crore.
SBI market cap
HDFC’s capitalization declined by Rs 33,023.19 crore to Rs 4,02,210.71 crore and that of ICICI Bank declined by Rs 29,343.26 crore to Rs 4,78,070.84 crore. The market capitalization of Bajaj Finance, Bharti Airtel and State Bank of India also declined last week. In contrast, the capitalization of Reliance Industries Ltd rose by Rs 28,006.22 crore to reach Rs 15,73,050.36 crore.
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The capitalization of Infosys rose by Rs 12,470.59 crore to Rs 7,24,913.68 crore and that of Tata Consultancy Services by Rs 2,034.48 crore to Rs 13,03,989.59 crore.
market next week
Santosh Meena, Head of Research, Swastika Investmart Limited said, “Geopolitical uncertainty still persists. Apart from this, the results of the assembly elections on March 10 at the domestic level are also important. Apart from this, inflation data in America will be announced on March 10, which will also be monitored by global markets.
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