Mukesh Ambani's magic did not work on the market, this is how Reliance suffered the biggest loss

This week, Mukesh Ambani's big announcements or Reliance's AGM did not have any significant impact on the stock market. On the contrary, Reliance has suffered the most loss in market capitalization.

This week has been quite a shock for the country's most valuable company Reliance Industries. Despite Mukesh Ambani making many big announcements in the company's AGM, the market response was not very good, and the company has suffered the biggest loss in the case of MCAP. At the same time, the market capitalization (MCAP) of 7 out of the top 10 companies of the country included in BSE Sensex has seen a decline of more than Rs 62,000 crore.

In the last week, the total market capitalization of 7 out of the top 10 companies of the country fell by Rs 62,279.74 crore. Market capitalization (MCAP) of companies is determined by the trading value of their available shares in the open market. In such a situation, if the share price of a company increases then its MCAP increases. When the share price comes down, the mcap also comes down. Fluctuations in MCAP affect the net worth of the company's shareholders.

RIL suffered the most

Earlier this week, Reliance Industries had its 46th AGM. In this, Mukesh Ambani talked about launching Jio Bharat Phone, Jio Airfiber. At the same time, Jio Financial Services announced to enter the insurance sector soon. Despite this, the trend of the company's stock slowed down at the end of the week. Its effect was seen in the form of a decline in the mcap of the company.

This week, there has been a decrease of Rs 38,495.79 crore in the mcap of Reliance Industries. It has now come down to Rs 16,32,577.99 crore. However, despite this, she remains the most valuable of the country.

they also got bad

Apart from Reliance Industries, MCAP of Tata Consultancy Services (TCS), ICICI Bank, Hindustan Unilever, ITC, State Bank of India (SBI) and Bharti Airtel declined.

Hindustan Unilever's mcap declined by Rs 14,649.7 crore to Rs 5,88,572.61 crore, that of Bharti Airtel declined by Rs 4,194.49 crore to Rs 4,84,267.42 crore. The market capitalization of ITC also declined by Rs 3,037.83 crore to Rs 5,50,214.07 crore and that of ICICI Bank declined by Rs 898.8 crore to Rs 6,78,368.37 crore.

TCS's mcap declined by Rs 512.27 crore to Rs 12,36,466.64 crore. Whereas SBI's mcap declined by Rs 490.86 crore and stood at Rs 5,08,435.14 crore.

HDFC Bank wins

Unlike Reliance, HDFC Bank's mcap has increased by Rs 10,917.11 crore. It reached Rs 11,92,752.19 crore. Infosys' mcap stood at Rs 5,98,917.39 crore with a rise of Rs 9,338.31 crore.

The market capitalization of Bajaj Finance stood at Rs 4,43,350.96 crore with an increase of Rs 6,562.1 crore. Reliance Industries remains at the first position in the list of top-10 companies. After that comes TCS, HDFC Bank, ICICI Bank, Infosys, Hindustan Unilever, ITC, SBI, Bharti Airtel and Bajaj Finance respectively.