Donald Trump News / Trump's victory showered money on Tata, Ambani suffered record loss

Donald Trump's victory has given a boost to the IT sector. TCS's market cap increased by 58 thousand crores and Infosys' by 29 thousand crores. Reliance suffered a loss of 74,500 crores. Overall, the top 10 companies incurred a loss of 1,55,721 crores and a profit of 1,21,074 crores.

Vikrant Shekhawat : Nov 10, 2024, 03:40 PM
Donald Trump News: Donald Trump's election victory in the US has had a positive impact on India's IT sector. This development has benefited Indian IT companies, especially Tata Consultancy Services (TCS) and Infosys. On the other hand, the country's largest company Reliance Industries has suffered heavy losses. In the past week, the Indian market witnessed fluctuations in the Sensex and Nifty, which affected different sectors differently.

IT companies gain

Among Indian IT companies, TCS and Infosys gained the most this week. The market cap of TCS has increased by Rs 57,744.68 crore to Rs 14,99,697.28 crore, which is a great news for the investors of the company. Similarly, Infosys also registered a growth of Rs 28,838.95 crore and its market value has reached Rs 7,60,281.13 crore. The increased confidence of investors in the IT sector and better future prospects are reflected in these figures.

Also, State Bank of India (SBI) and HDFC Bank also gained. SBI's market cap increased by Rs 19,812.65 crore, taking its valuation to Rs 7,52,568.58 crore. HDFC Bank's market cap increased by Rs 14,678.09 crore to Rs 13,40,754.74 crore. These figures reflect investors' confidence in the banking sector.

Reliance and other top companies suffer losses

In contrast to this gain in the IT and banking sector, the country's largest company Reliance Industries suffered heavy losses this week. The company's market cap fell by Rs 74,563.37 crore to Rs 17,37,556.68 crore. Other major companies also suffered this loss. Bharti Airtel's market cap fell by Rs 26,274.75 crore to Rs 8,94,024.60 crore.

Big companies like ICICI Bank, ETC, LIC, and Hindustan Unilever have also suffered a setback. ICICI Bank's valuation fell by Rs 22,254.79 crore, taking its market cap to Rs 8,88,432.06 crore. In the FMCG sector, ETC and Hindustan Unilever reported losses of Rs 15,449.47 crore and Rs 7,248.49 crore, respectively.

Overall performance of top 10 companies

This week, 6 of the top 10 companies in the Indian market collectively suffered a loss of Rs 1,55,721.12 crore. At the same time, the market cap of 4 companies saw a total increase of Rs 1,21,074.37 crore. This volatility is a symbol of the volatile environment of the stock market and the changing economic scenario.

Sensex and Nifty fluctuations

The Bombay Stock Exchange (BSE)'s key index Sensex closed at 79,486.32 points with a gain of 513.63 points this week. However, a marginal decline of 55.47 points was seen on Friday. The National Stock Exchange (NSE) Nifty also rose to a high of 74.45 points, although it fell by 51.15 points on Friday. This volatility reflects the mindset of investors and economic effects in the market.

Conclusion

This week's performance in the Indian stock market was mixed. The IT and banking sectors saw a boom, while Reliance and some other major companies suffered losses. This week was full of new opportunities and challenges for investors. This volatility in the Indian stock market can bring many more changes in the coming weeks, which will require investors to be cautious and take the right decisions.