Reliance becomes biggest ‘Sultan’ of stock market: 8 out of top 10 companies printed ₹4.55 lakh crore

by

Mukesh Ambani

The last two incidents happened like this. Which kept the stock market completely buzzing. After the stock market on Sunday, when the markets opened on Monday, there was excitement in BSE and NSE. After that the American TED deal and removal of tariffs were announced. Due to which the stock market saw an increase of more than 5 percent in a single day and Sensex and Nifty closed with a rise of 3 percent. Due to which stock market investors became silver.

Not only the stock market investors got the benefit, but even the big companies of the country were seen becoming rich. The country’s largest company Reliance Industries emerged as the biggest sultan of the stock market. Whose market cap saw an increase of about Rs 1.42 lakh crore. This is the only company which saw an increase of more than Rs 1 lakh crore in market cap. Whereas the market cap of other companies saw an increase of less than Rs 65 thousand crore.

According to the report, last week there was an increase of Rs 4.55 lakh crore in the combined market cap of eight of the top 10 companies. This surge was seen due to the remarkable rise in the stock market. Last week, the BSE benchmark rose 2,857.46 points or 3.53 per cent. Among the top 10 companies, Reliance Industries, HDFC Bank, Bharti Airtel, ICICI Bank, State Bank of India, Bajaj Finance, Life Insurance Corporation of India (LIC) and Hindustan Unilever were the gainers, while Tata Consultancy Services (TCS) and Infosys declined in value. A total decline of Rs 1,51,635.46 crore was seen in the market cap of these two companies. Whereas the market cap of 8 companies saw an increase of Rs 4,55,336.36 crore.

How much has the market cap of the country’s top companies increased?

  1. The market cap of the country’s largest company Reliance Industries increased by Rs 1,41,887.97 crore to Rs 19,63,358.79 crore.
  2. The valuation of LIC, the country’s largest insurance company, increased by Rs 64,926.1 crore to Rs 5,70,198.54 crore.
  3. The market valuation of Bharti Airtel, one of the country’s largest telecom companies, increased by Rs 52,516.39 crore to Rs 11,62,288.64 crore.
  4. The market valuation of the country’s second largest private lender ICICI Bank increased by Rs 52,476.97 crore to Rs 10,06,258.82 crore.
  5. The market capitalization (mcap) of the country’s largest NBFC company Bajaj Finance increased by Rs 48,659.83 crore to Rs 6,10,830.20 crore.
  6. The market capitalization of State Bank of India, the country’s largest government lender, increased by Rs 45,460.79 crore to Rs 9,84,353.06 crore.
  7. The valuation of HDFC Bank, the country’s largest private lender, increased by Rs 32,350.28 crore to Rs 14,48,249.63 crore.
  8. The valuation of the country’s largest FMCG company Hindustan Unilever increased by Rs 17,058.03 crore to Rs 5,69,482.18 crore.
  9. On the other hand, the market valuation of the country’s largest IT company TCS declined by Rs 88,172.8 crore to Rs 10,64,242.35 crore.
  10. The market capitalization of Infosys, one of the largest IT companies in the country, declined by Rs 63,462.66 crore to Rs 6,26,067.95 crore.

Why did IT shares fall?

According to the report, a selloff was seen in IT stocks last week, in line with the weak trend of tech companies globally amid valuation concerns and fears over the rapid progress being made in artificial intelligence. The effect of which was also seen in the valuation of the country. Reliance Industries remained the most valuable company, followed by HDFC Bank, Bharti Airtel, TCS, ICICI Bank, State Bank of India, Infosys, Bajaj Finance, LIC and Hindustan Unilever.

Leave a Comment