Stock Market Weekly Review: Top 10 Companies’ Valuations Up by ₹1.41 Lakh Crore; Sensex Rises by 730.93 Points

Last updated on August 31st, 2024 at 12:05 am

Stock Market Weekly Review:
Image by Gerd Altmann from Pixabay

Stock Market Weekly Review:

Seven of the top 10 most valuable companies saw their combined market valuation rise by ₹1,40,863.66 crore, with TCS and Infosys leading the gains. The BSE benchmark index rose by 730.93 points, fuelled by a strong rally on Friday.

Read more: Top 3 Price-Volume Breakout Stocks: Firstsource Solutions, Kitex Garments, and Pasupati Acrylon

India Reduces Windfall Profit Tax on Crude Oil to ₹2,100 Per Tonne

In the past week, which was shortened by a holiday, the combined market valuation of seven of the top 10 most valuable companies increased by ₹1,40,863.66 crore. During this period, the benchmark Sensex rose by nearly 1%.

Tata Consultancy Services (TCS) and Infosys were the top gainers, contributing to a positive trend on Dalal Street. Over the week, the BSE benchmark index rose by 730.93 points, or 0.91%, largely due to a strong rally on Friday.

TCS’s market capitalisation increased by ₹67,477.33 crore to ₹15,97,946.44 crore, while Infosys’s valuation grew by ₹36,746.21 crore, reaching ₹7,72,023.49 crore.

Bharti Airtel’s valuation increased by ₹11,727.55 crore to ₹8,45,123.87 crore, and ICICI Bank’s by ₹10,913.96 crore to ₹8,36,115.19 crore.

Regarding the market capitalisation changes for ITC and Reliance Industries:

ITC:

Increase: ITC’s market capitalization rose by ₹8,569.73 crore.
New Market Cap: ITC’s total market cap is now ₹6,28,399.10 crore.

Reliance Industries:

Increase: Reliance Industries’ market capitalization grew by ₹5,311.4 crore.
New Market Cap: Reliance Industries’ total market cap is now ₹20,00,076.41 crore.

Hindustan Unilever’s valuation increased up by ₹117.48 crore to ₹6,45,926.13 crore.

market update

The changes in market capitalisation for major companies:

Life Insurance Corporation of India (LIC):

Decrease: LIC’s market capitalization fell by ₹47,943.48 crore.
New Market Cap: LIC’s total market cap is now ₹6,69,058.26 crore.

HDFC Bank:

Decrease: HDFC Bank’s market capitalization dropped by ₹13,064 crore.
New Market Cap: HDFC Bank’s total market cap is now ₹12,43,441.53 crore.

State Bank of India (SBI):

Decrease: SBI’s market capitalization decreased by ₹10,486.42 crore.
New Market Cap: SBI’s total market cap is now ₹7,25,080.10 crore.

Current Market Valuation Rankings:

Reliance Industries: Most valued company. Followed by

  • TCS
  • HDFC Bank
  • Bharti Airtel
  • ICICI Bank
  • Infosys
  • SBI
  • LIC
  • Hindustan Unilever
  • ITC

Stock Market Summary for This Week:

  • Friday’s Rally: The stock market saw a strong rally on Friday, reversing the losses from earlier in the week.
  • Indices Performance:
  • Nifty 50: Increased by 0.71% to close at 24,541.15.
  • Sensex: Rose by 0.91% to end at 80,436.84.
  • Weekly Trend: The Nifty and Sensex managed to reverse their downward trend and ended a two-week losing streak with around 1% gains.

Disclaimer: This information is for educational purposes only and not investment advice. Always consult with a financial advisor before making any investment decisions.

Read more:

https://news-affairs.com/web-stories/12-indian-spices-fail-fssai-standards-amid-global-investigations/

Indian Stock Market Soars: Nifty 50 Gains 396 Points on Friday – Key Levels for Monday

Mahindra & Mahindra Stock Expectation | Thar Roxx Growth , Expected Sale till FY27

Private Jet Flights Plunge 15%: Industry Faces Correction After Post-Covid Boom

₹12.99 lakh 5 Door Mahindra Thar Roxx Interior Details

https://news-affairs.com/web-stories/concerns-over-8-5-billion-reliance-disney-merger/

News Affairs 7
News Affairs 7

Leave a Reply

Your email address will not be published. Required fields are marked *