Information Madness

The combined market capitalization of the nine most valued companies got wiped out by almost sixty six thousand Crores last week. Reliance took the major loss. Its value dropped by almost eighteen thousand Crores.

Tata Consultancy Services lost about a thousand Crores. Oil and Natural Gas Commission lost six thousand Crores. Coal India Limited lost eleven thousand Crores. ITC lost over four thousand Crores. NTPC lost five thousand Crores. Bharti Airtel lost about ten thousand Crores. SBI lost five thousand Crores and

HDFC lost about six thousand Crores.

A weak market saw the BSE Sensex fall by about four per cent last week. Major worries about the financial situation in Europe along with a series of rating downgrades and warnings to that effect have been responsible for the decline in growth here. The inability of the government to push forward reforms has also taken a toll of many blue chip stock companies and has sent the benchmark indices Sensex and Nifty crashing below some psychological support levels last week.

Failure on the part of European leaders in reaching an agreement on the possibilities of solving the Euro zone debt situation has hurt the world markets to a considerable extent and has brought down the world stocks.