New Delhi: In many countries, cases of coronavirus have increased again. Consequently, the Indian government is also very cautious. Recently, the government issued an advisory regarding Corona. Due to the increased spread of Corona virus in China, while the lack of staff has increased in the country’s hospitals, health workers, doctors and nurses are all working continuously.
It also reverberated in the Indian stock market. There has been a major decline in the stock market this week. The fall has resulted in huge losses in the stocks of many companies.
On the other hand, in terms of market capitalization, the total market capitalization of the top 10 companies decreased by Rs 1,68,552.42 crore last week. In this, Reliance Industries has suffered the biggest decline. The news of the spread of corona virus has also affected the stock market and has come as a thunderous news for the investors.
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Sensex lost 1,492.52 points (2.43%) last week. The market remained weak amid rising covid infections in China and some other countries. The value of Reliance Industries decreased by Rs 42,994.44 crore to Rs 16,92,411.37 crore. State Bank of India’s market capitalization fell by Rs 26,193.74 crore to Rs 5,12,228.09 crore.
HDFC Bank fell by Rs 22,755.96 crore to Rs 8,90,970.33 crore and Life Insurance Corporation of India (LIC) fell by Rs 18,690.03 crore to Rs 4,16,848.97 crore. ICICI Bank’s market capitalization fell by Rs 16,014.14 crore to Rs 6,13,366.40 crore.
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Apart from this, Hindustan Unilever’s market capitalization fell by Rs 11,877.18 crore to Rs 6,15,557.67 crore. On the other hand, Infosys’s market cap fell by Rs 10,436.04 crore to Rs 6,30,181.15 crore and HDFC’s fell by Rs 8,181.86 crore to Rs 4,78,278.62 crore.
People flock to hospitals in China to get tested for Covid-19. The news that a new wave of Corona is likely to peak in January in areas where the number of cases of Covid is increasing rapidly, has seen stock markets around the world in a frenzy.
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