- Increase in market cap of five of the top 10 companies
- Growth in market cap of Tata Consultancy Services
- However, Reliance was hit the hardest
Stock Market Update: 72,284.74 crores in the market cap of five of the top 10 companies in the domestic stock market last week due to positive investors. Tata Group’s IT major Tata Consultancy Services (TCS) saw the highest growth in market cap. The top 10 companies with market cap gains in the last week include Bharti Airtel, TCS, ICICI Bank, Infosys and Bajaj Finance. Meanwhile, the market cap of Reliance Industries, HDFC Bank, State Bank of India, L&T and Life Insurance Corporation of India i.e. LIC has declined.
TCS’s market cap grew the most. TCS saw the highest increase in market cap by Rs 35,909.52 crore to Rs 11,71,862.37 crore. Also, the market value of Infosys also rose by Rs 23,404.55 crore to around Rs 6,71,366.53 crore. Bajaj Finance’s market capitalization increased by Rs 6,720.28 crore to Rs 6,52,396.39 crore.
On the contrary, the market value of Reliance Industries was seen to decline. Reliance Industries’ market cap fell by Rs 35,116.76 crore to Rs 20,85,218.71 crore. Bharti Airtel’s market value also increased by Rs 3,791.9 crore to Rs 12,01,832.74 crore. ICIC Bank’s market cap rose by Rs 2,458.49 crore to Rs 9,95,184.46 crore.
LIC’s market cap fell by Rs 15,559.49 crore to Rs 5,50,021.80 crore, while State Bank of India’s (SBI) market cap fell by Rs 7,522.96 crore to Rs 8,96,662.19 crore and HDFC Bank also fell by Rs 5,724.03 crore to Rs 15,43,019.64 crore.
Next week is going to be an important one for the Indian stock market. Because inflation, mutual funds, FIIs and domestic and global economic data will determine market prices. Additionally, investors will keep an eye on strengthening ties between India and Russia and a possible US-India trade deal next week.
Note: Investments are subject to market risks. If you want to invest in this, consult a certified investment advisor first. Navarashtra.com shall not be liable for any profit or loss of your kind.
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