In the latest market movement, several top Indian companies experienced fluctuations in their market capitalization. Notably, the state-owned giant, Life Insurance Corporation of India (LIC), emerged as the top laggard, witnessing a significant decline in market valuation. On the other hand, State Bank of India, Infosys, HDFC Bank, and ICICI Bank stood out as gainers, collectively adding to their market capitalization.
During this period, the BSE benchmark managed to climb 831.15 points, reflecting a mixed sentiment among investors. LIC witnessed a significant decline in market valuation by ₹26,217.12 crore, settling at ₹6,57,420.26 crore. TCS also faced a substantial dip, losing ₹18,762.61 crore to reach ₹14,93,980.70 crore in market capitalization. Similarly, ITC’s market value shrank by ₹13,539.84 crore to ₹5,05,092.18 crore, while Hindustan Unilever’s decreased by ₹11,548.24 crore to ₹5,58,039.67 crore.
Bharti Airtel and Reliance Industries also experienced declines, although smaller in comparison. Bharti Airtel’s market valuation dropped by ₹703.60 crore to ₹6,30,340.9 crore, while Reliance Industries witnessed a decrease of ₹642.62 crore, settling at ₹19,76,493.92 crore. Interestingly, Reliance Industries achieved a significant milestone as it became the first Indian company to attain a market capitalization of ₹20 lakh crore, with its shares hitting a 52-week high of ₹2,968.40 apiece.
Conversely, State Bank of India witnessed a substantial increase in market capitalization, jumping by ₹27,220.07 crore to ₹6,73,585.09 crore. Infosys added ₹13,592.73 crore to its valuation, reaching ₹7,06,573.08 crore. HDFC Bank and ICICI Bank also saw gains, with market valuations climbing by ₹12,684.58 crore and ₹8,541.48 crore, respectively.
In the hierarchy of the top-10 most valued firms, Reliance Industries continued to dominate, followed by TCS, HDFC Bank, ICICI Bank, Infosys, State Bank of India, LIC, Bharti Airtel, Hindustan Unilever, and ITC. These fluctuations underscore the dynamic nature of the stock market and the shifting fortunes of the top players within it.
