NEWS AFFAIRS 7 : WHERE EVERY STORY HAS IT'S AFFAIR!
Last updated on August 31st, 2024 at 12:05 am
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.
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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.
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.
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