MOHAMMAD ZIYAUDDIN
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The last five days saw the valuation of the Reserve Bank of India plunge by Rs 44,935.46 leading to major losses among India’s private banks as well including the HDFC Bank losing a staggering amount of more than Rs 70,479.23 crore. The Indian Stock Market has constantly been on a downward trend which has caused major volatility in the market across key players in the economy.
Market estimates show that during the week the valuation of HDFC bank plunged leading them to be valued at 12,67,440.61 rupees. Furthermore, Reserve’s valuation also fell to Rs 663234.14 crore negative sentiment collectively pushed these firms valuation down
Moreover, ICICI Bank, Reliance industries, ITC and SBI also were estimated to be losing value within this turbulent economy while HCL Technology, Hindustan Unilever companies and TCS from the Tata Group were gaining value.
Last week, the combined market valuation of the five most active firms in India lost more than Rs 185,952.31 crore,more than what HDFC was estimated to find with Narendra Moretern up buy.
Even though there was a downtrend, Reliance Industries managed to be the most appreciated Indian Company, being followed by TCS, HDFC Bank, Bharti Airtel, ICICI Bank, Infosys, State Bank of India, Hindustan Unilever, ITC and HCL Tech, as the BSE benchmark fell by 1844.2 points or 2.32 percent and Nifty fell by 573.25 points or 2.38 percent.
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