May 26th 2024.
Last week, the stock market in India saw a significant increase in value, with nine out of the top-10 most valuable companies collectively gaining a whopping Rs 1,85,320.49 crore. The two biggest winners were Reliance Industries Ltd and HDFC Bank, reflecting the overall surge in the stock market.
The BSE benchmark index, the 30-share BSE Sensex, also saw a remarkable jump of 1,404.45 points or 1.89 percent. This resulted in a new all-time high of 75,636.50 on Friday.
Out of the top-10 most valuable companies, only ITC experienced a decline in market value. On the other hand, Reliance Industries saw a massive increase of Rs 61,398.65 crore, reaching a total valuation of Rs 20,02,509.35 crore. HDFC Bank also saw a significant jump of Rs 38,966.07 crore, reaching a valuation of Rs 11,53,129.36 crore.
Life Insurance Corporation of India also contributed to the overall increase, with a market valuation of Rs 6,51,348.26 crore after a jump of Rs 35,135.36 crore. Bharti Airtel and Hindustan Unilever also saw a significant increase of Rs 22,921.42 crore and Rs 9,985.76 crore, respectively. Infosys and State Bank of India also experienced a rise in market value, adding Rs 8,821.99 crore and Rs 6,916.57 crore, respectively.
ICICI Bank and Tata Consultancy Services also saw a slight increase in market value, adding Rs 903.31 crore and Rs 271.36 crore, respectively. However, ITC saw a decline of Rs 436.97 crore in its market valuation, which now stands at Rs 5,44,458.70 crore.
In terms of ranking, Reliance Industries maintained its position as the most valuable company, followed by TCS, HDFC Bank, ICICI Bank, Bharti Airtel, SBI, LIC, Infosys, Hindustan Unilever, and ITC. This data was reported by PTI, highlighting the impressive performance of these top companies in the Indian stock market last week.
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