Share Market News / Tata, Mittal, Ambani... 2.37 lakh crores lost in the market of 10 giants

Share Market News: The Indian stock market has been witnessing a huge decline for the last two days. On Monday and Tuesday, the Sensex and Nifty fell by about one and a half percent, wiping out Rs 2.37 lakh crore from the market cap of the top 10 companies of the country. This decline has affected TCS and Reliance Industries the most. The combined market cap of these two companies has declined by more than one lakh crore. Apart from this, companies like Bharti Airtel, HDFC Bank and ICICI Bank have also suffered huge losses.

Condition of Sensex and Nifty

On Monday, the Sensex fell by more than 1100 points, while the Sensex lost 1500 points in total in two days. On the other hand, Nifty has also registered a decline of 464.85 points. Due to this decline, investors have suffered a loss of Rs 4.59 lakh crore.

Country's top 10 companies suffered huge losses

TCS

The country's largest IT company suffered a loss of Rs 56,243.17 crore in two days. The company's market cap fell from Rs 16,18,587.63 crore to Rs 15,62,344.46 crore.

Reliance Industries

The country's largest company Reliance Industries' market cap fell by Rs 41,612.05 crore. The company's market cap fell from Rs 17,23,144.70 crore to Rs 16,81,532.65 crore.

Bharti Airtel

India's leading telecom company Bharti Airtel's market cap lost Rs 40,860.43 crore. Now the company's market cap has fallen from Rs 9,57,842.40 crore to Rs 9,16,981.97 crore.

HDFC Bank

The market cap of the largest private bank HDFC Bank fell by Rs 30,579.49 crore. The company's market cap fell from Rs 14,31,158.06 crore to Rs 14,00,578.57 crore.

Infosys

The market cap of leading IT company Infosys fell by Rs 16,961.94 crore. The company's market cap fell from Rs 8,30,387.10 crore to Rs 8,13,425.16 crore.

ICICI Bank

The market cap of the country's second largest private bank ICICI Bank fell by Rs 13,090.17 crore from Rs 9,49,306.37 crore to Rs 9,36,216.20 crore.

SBI

The market cap of the largest public sector bank SBI fell by Rs 12,985.33 crore. The company's market cap fell from Rs 7,69,034.51 crore to Rs 7,56,049.18 crore.

ITC

The market cap of FMCG sector giant ITC fell by Rs 8,757.57 crore to Rs 5,88,195.82 crore from Rs 5,79,438.25 crore.

Hindustan Unilever (HUL)

HUL's market cap suffered a loss of Rs 8,024.15 crore. The company's market cap fell from Rs 5,61,423.08 crore to Rs 5,53,398.93 crore.

LIC

The market cap of the largest government insurance company LIC fell by Rs 7,811.38 crore. The company's market cap fell from Rs 5,89,869.29 crore to Rs 5,82,057.91 crore.

Reason for market fall

Many factors can be responsible for this huge fall in the stock market:

Impact of global markets: Instability regarding the interest rates of the US Federal Reserve.

Rise in crude oil prices: Expensive oil has increased economic pressure on India.

Selling by foreign investors: Continuous withdrawal by FIIs (Foreign Institutional Investors).

Profit booking: Recently the stock market had touched high levels, after which investors booked profits.

Tuesday's market condition

On Tuesday, the market made new records of decline.

The Sensex closed 1064.12 points down at 80,684.45. The Sensex fell 1136.37 points during the day's trading.

The Nifty closed 332.25 points down at 24,336.00. Nifty slipped by 364.8 points during the day.

Advice for investors

Amid this decline, market experts say that investors need not panic. This decline is due to profit booking and global conditions. For long-term investors, this can also prove to be an opportunity to buy in the market. Investors should focus on the right companies and make a strategy keeping in mind the ups and downs of the market.

Conclusion

The decline of the last two days has given a big blow to the Indian stock market and investors. There is an atmosphere of disappointment in the market due to a huge decline in the market cap of top companies. However, experts believe that the market may soon move towards stability.