Market at new record high.
The market capitalization (market cap) of eight of the top 10 Sensex companies collectively increased by Rs 1,52,355.03 crore last week. HDFC Bank and State Bank of India were the biggest gainers. Last week, the 30-share BSE Sensex was up 1,246.89 points or 2.07 per cent. On Thursday, the Sensex crossed the 61,000 mark for the first time. Markets were closed on Friday on the occasion of Dussehra.
HDFC Bank’s market capitalization rose by Rs 46,348.47 crore to Rs 9,33,559.01 crore in the week under review. SBI’s market valuation increased by Rs 29,272.73 crore to Rs 4,37,752.20 crore. Similarly, the market valuation of Reliance Industries increased by Rs 18,384.38 crore to Rs 17,11,554.55 crore.
ICICI Bank’s market cap crosses 5 lakh crore
The market position of ICICI Bank increased by Rs 16,860.76 crore to Rs 5,04,249.13 crore and that of HDFC to Rs 5,07,861.84 crore with an increase of Rs 16,020.7 crore. The market capitalization of Kotak Mahindra Bank rose by Rs 15,944.02 crore to Rs 3,99,810.31 crore and that of Bajaj Finance rose by Rs 7,526.82 crore to Rs 4,74,467.41 crore. Hindustan Unilever added Rs 1,997.15 crore during the week and its market valuation reached Rs 6,22,359.73 crore.
TCS market cap fell by Rs 1.20 lakh crore
Contrary to this trend, the market capitalization of Tata Consultancy Services (TCS) declined by Rs 1,19,849.27 crore to Rs 13,35,838.42 crore. Infosys’s market position also declined by Rs 3,414.71 crore to Rs 7,27,692.41 crore on Monday as its stock fell more than six per cent as TCS’s quarterly results were not as expected.
Reliance at number one in terms of market cap
Reliance Industries retained the first position in the list of top 10 companies. It was followed by TCS, HDFC Bank, Infosys, Hindustan Unilever, HDFC, ICICI Bank, Bajaj Finance, SBI and Kotak Mahindra Bank respectively.
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