June 16th 2024.
Last week, the stock market saw a positive trend as the BSE benchmark Sensex climbed 299.41 points or 0.39 per cent. This led to an increase in the overall market valuation of the top-10 most valued firms, with a total addition of Rs 85,582.21 crore. The biggest gainer among these firms was Life Insurance Corporation of India, with a jump in valuation of Rs 46,425.48 crore.
The top gainers also included Reliance Industries, HDFC Bank, Bharti Airtel, State Bank of India, and LIC. On the other hand, Tata Consultancy Services, ICICI Bank, Infosys, Hindustan Unilever, and ITC faced a decrease in their market valuation, resulting in a collective loss of Rs 84,704.81 crore.
The market capitalisation of HDFC Bank saw a significant rally of Rs 18,639.61 crore, followed by Reliance Industries with an increase of Rs 10,216.41 crore. Meanwhile, State Bank of India and Bharti Airtel also saw a rise in their valuation by Rs 9,192.35 crore and Rs 1,108.36 crore, respectively.
Contrarily, the valuation of Hindustan Unilever saw a drop of Rs 22,885.02 crore, making it the top loser among the top-10 companies. Similarly, TCS and Infosys also faced a decrease in their market capitalisation, resulting in a loss of Rs 22,052.24 crore and Rs 18,600.5 crore, respectively. ICICI Bank and ITC also saw a decline in their valuation by Rs 11,179.27 crore and Rs 9,987.78 crore, respectively.
Despite these changes, Reliance Industries remained the most valued firm among the top-10, followed by TCS, HDFC Bank, Bharti Airtel, ICICI Bank, State Bank of India, LIC, Infosys, Hindustan Unilever, and ITC. These companies continue to hold strong positions in the stock market, and their performance is closely watched by investors and analysts.
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