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Amidst an apparently weakening post budget rally in the 18 trading sessions of April 2016, the Sensex firms have added Rs. 36,453.74 crore to their market capitalization (Mcap). However, the promising start of the new financial year faded away in just 3 trading sessions of the current month, with a whopping Rs. 86,611.18 crore wiped off from Sensex-30 market cap on BSE.
The stock market barometer rose 1.04% in April as against a fall of 1.97% as of May 4, 2016. Currently, the total Mcap of Sensex heavyweights stands at Rs. 43,32,142.07 crore, which is 45.31% of total market cap of all BSE-listed firms (Rs. 95,60,166 crore).
Firms like RIL, Infosys and TCS have seen their mcap eroding despite impressive Q4 numbers. Despite a record Q4 performance, the Mukesh Ambani-led Reliance Industries saw its Mcap plummeting by Rs. 20,317.16 crore in April (the most among the Sensex-30 for April) and Rs. 1,636.39 crore. In FY17, RIL has seen its Mcap eroding by Rs. 21,953.55 crore.With the total mcap standing at Rs. 3,16,746.67 crore, RIL is the second largest firm on BSE in terms of Mcap.
Things turned upside down for TCS in the first three trading sessions of May with the IT major’s Mcap plummeting by a massive Rs. 10,206.82 crore as against an addition of Rs. 2,758.60 crore in April 2016. With a total Mcap of Rs. 4,88,321.30 crore, TCS is the India’s largest firm on BSE in terms of market cap.
In May so far, total 26 Sensex firms saw seen their mcap nosediving as against 12 companies reporting a decline in their Mcap in April. Ironically, HDFC Bank reported highest gain of Rs. 15,856.69 crore in its Mcap in April, but lost Rs. 1,530.19 crore in May so far. On the other hand, as many as 10 companies including Adani Ports & SEZ, Coal India, Hero MotoCorp, HUL, Infosys, ITC, RIL, SBI, Sun Pharma and Wipro were on a falling spree with their Mcap continued tumbling in both April and May; while Gail India and Maruti Suzuki saw their Mcap surging on a monthly basis.
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