There is a silver lining to the economic turbulence in Indian markets. Net effect of the economic turbulence is that top 10 firms in fact notched up their market valuations.
Breaking its six-week long losing trend, country's top 10 club added over Rs. 20,000 crores to the combined market valuation in the past week, even as Reliance Industries and Infosys suffered losses.
The top 10 companies together gained Rs. 23,273 crores in market cap last week, while country's most valued firm Reliance Industries alone lost Rs. 24,063 crores from its valuation. Also IT bellwether Infosys' valuation declined to Rs. 6,371 crores in the past week.
At the end of Friday's trade, the total market value of the 10 most valued firms, comprising six from public sector and four private sector entities, stood at Rs. 10,15,150 crores, up from Rs. 9,91,877 crores a week ago.
As per the elite list of top 10 firms, RIL is followed by ONGC (Rs. 1,58,619 crores), NTPC (Rs. 1,24,671 crores), Bharti Airtel (Rs. 1,23,379 crores), SBI (Rs. 79,312 crores), Infosys (Rs. 72,728 crores), BHEL (Rs. 68,782 crores), MMTC (Rs. 68,726 crores), ITC (Rs. 65,908 crores) and NMDC (Rs. 61,810 crores).
Does it mean, more investors are moving to stable and large firms from volatile small and medium stocks?