Image Source : PIXABAY Stock market
The total market capitalization of five out of the top 10 most valuable companies fell by Rs 1,67,936.21 crore last week, with HDFC Bank experiencing the most significant decline. The BSE benchmark index fell by 1,144.8 points (1.57 per cent) during the week.
Among the top 10 companies, Reliance Industries, Tata Consultancy Services (TCS), HDFC Bank, Hindustan Unilever, and State Bank of India saw a reduction in their market valuations, while ICICI Bank, Infosys, Bharti Airtel, Life Insurance Corporation of India (LIC), and ITC witnessed gains.
HDFC Bank’s market valuation dropped by Rs 1,22,163.07 crore to Rs 11,22,662.76 crore due to a three-day consecutive decline in its shares following disappointing December quarter earnings. Reliance Industries’ valuation decreased by Rs 18,199.35 crore to Rs 18,35,665.82 crore, Hindustan Unilever lost Rs 17,845.15 crore, and TCS saw a decline of Rs 7,720.6 crore. The State Bank of India’s market capitalization dipped by Rs 2,008.04 crore.
On the positive side, LIC’s market capitalization increased by Rs 67,456.1 crore, making it the most valued PSU firm by market valuation, surpassing the State Bank of India. Bharti Airtel added Rs 26,380.94 crore to its market valuation, Infosys gained Rs 15,170.75 crore, ICICI Bank rallied Rs 3,163.72 crore, and ITC’s valuation climbed by Rs 2,058.48 crore.
As of now, Reliance Industries remains the top-valued firm, followed by TCS, HDFC Bank, ICICI Bank, Infosys, Bharti Airtel, LIC, ITC, Hindustan Unilever, and the State Bank of India.
(With PTI inputs)
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