It's a sign of gains in equity markets being lopsided, say analysts
Nine of the top-10 most valued firms faced a combined erosion of Rs 1,22,092.9 crore in market valuation last week amid weak trend in equities, with Reliance Industries emerging as the biggest laggard. Last week, the 30-share BSE benchmark declined 843.86 points or 1.36 per cent. Barring HDFC Bank, rest nine companies, including Tata Consultancy Services (TCS), Infosys, ICICI Bank and Hindustan Unilever, witnessed decline in their market valuation. The valuation of Reliance Industries tanked Rs 29,767.66 crore to Rs 17,35,405.81 crore. TCS faced an erosion of Rs 19,960.12 crore to Rs 11,84,837.43 crore in its market valuation. The valuation of ICICI Bank plunged Rs 19,722.3 crore to Rs 6,29,380.54 crore and that of Infosys tumbled Rs 19,567.57 crore to Rs 6,40,617.19 crore. The market capitalisation (mcap) of Hindustan Unilever went lower by Rs 11,935.92 crore to Rs 6,27,434.85 crore and that of State Bank of India declined by Rs 11,735.86 crore to Rs 5,38,421.83 crore. Bharti .
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However, the minimum 25% exposure to each of the three market caps also makes them volatile
The combined market valuation of six of the 10 most valued companies surged by Rs 1,56,247.35 crore last week, with Reliance Industries Ltd (RIL) emerging as the biggest gainer
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Elara says listings of new-age tech companies could be a big driver.
Combined m-cap of all listed firms has doubled since last March to Rs 226.5 trillion
The ratio of the value of all companies in the stock market to the size of the Indian economy is now in excess of 100 per cent
Commodity and Adani companies dominate entries so far this year
Only market among top 15 to see a fall; world m-cap has risen 4.2% in April
The latest bout of correction, triggered by rising US bond yields and a surge in Covid cases, has shaved off Rs 11.5 trillion in market value
Only RIL and SBI emerged as gainers from the top 10 most-valued companies list
Of the 441 stocks that gained, only 147 outperformed the BSE 500 index, which has risen 8.6 per cent in the past five trading sessions
China's m-cap is now 4.3x India's, whose m-cap grew just 17 per cent to $2.5 trillion in CY20 - 2.4 per cent of the global m-cap
While global markets have added $7 trillion in this month, India has added $177 billion (Rs 13 trillion) in just eight trading sessions
Over the last 12 months, MSCI India has remained flat, while MSCI EM has slid 1.5%
Foreign portfolio investors (FPIs) and mutual funds (MFs) have seen their assets under custody (AUC) grow at a much faster rate
In the top-10 list, only Tata Consultancy Services (TCS) and HUL saw gains in their market capitalisation (m-cap) for the week ended Friday
A decade ago, there were only 10 companies in the coveted club