Market capitalization of three of top-10 most valued firms rises by ₹1.06 lakh crore; HDFC Bank and ICICI Bank lead
Last week, India's stock market saw HDFC Bank and ICICI Bank leading gains, while Reliance Industries and others faced declines in market capitalization.
Last week, the Indian stock market witnessed notable movements among its top companies, reflecting shifts in market capitalization and investor sentiment. Here's a detailed breakdown of how the major firms fared:
Gainers:
HDFC Bank: HDFC Bank emerged as the top gainer, with its market capitalization soaring by ₹52,091.56 crore. This increase brought its total valuation to ₹12,67,056.69 crore.
ICICI Bank: Following closely, ICICI Bank saw a significant rise in market capitalization by ₹36,118.99 crore. This surge elevated its valuation to ₹8,13,914.89 crore.
Infosys: Infosys also experienced substantial growth, with its market capitalization increasing by ₹17,915.43 crore. Its total valuation reached ₹6,35,945.80 crore.
Losers:
Reliance Industries: Despite maintaining the top position in rankings, Reliance Industries faced a decline in market capitalization by ₹32,271.31 crore. Its valuation decreased to ₹19,66,686.57 crore.
LIC: LIC observed a decrease in market capitalization by ₹27,260.74 crore, bringing its total valuation down to ₹6,47,616.51 crore.
ITC: ITC's market capitalization declined by ₹14,357.43 crore, settling at ₹5,23,858.91 crore.
Hindustan Unilever: The company's market capitalization dropped by ₹8,904.95 crore, reaching ₹5,73,617.46 crore.
TCS: TCS experienced a decrease in market capitalization by ₹8,321.6 crore, with its valuation standing at ₹13,78,111.45 crore.
Bharti Airtel: Bharti Airtel's market capitalization diminished by ₹7,261.72 crore, settling at ₹8,04,262.65 crore.
State Bank of India: SBI saw a decline in market capitalization by ₹3,391.35 crore, reaching ₹7,46,454.54 crore.
The combined market capitalization changes of these top firms led to a notable net gain of ₹1,06,125.98 crore among the top 10 companies. This figure underscores the dynamic nature of stock market movements, influenced by various economic factors and investor behavior.
During the week under review, the BSE benchmark Sensex rose by 217.13 points or 0.28%, reflecting modest overall market optimism despite mixed performances among individual stocks.
The week's market movements highlight HDFC Bank and ICICI Bank as standout performers in terms of market capitalization gains, while several other major firms experienced declines. These fluctuations underscore the volatility and competitive dynamics within the Indian stock market, shaped by both domestic and global economic trends. Investors and analysts continue to monitor these developments closely, seeking insights into future market directions and investment strategies.