The stock market had reached record levels last week.
Share Market News: The market capitalization (market cap) of seven of the top 10 most valuable Sensex companies collectively increased by Rs 1,72,225.62 crore last week. The biggest gainer was the information technology sector company Tata Consultancy Services (TCS). Last week, the 30-share BSE Sensex gained 522.74 points or 0.65 percent.
Market succeeded in reaching record level
On Friday, the Sensex closed at a record high of 80,519.34, up 622 points or 0.78 percent. During the day’s trading, it rose 996.17 points or 1.24 percent to its all-time high of 80,893.51.
How will the stock market perform this week? This is the expert’s opinion
In the week under review, the market capitalization of TCS increased by Rs 62,393.92 crore to reach Rs 15,14,133.45 crore. The net profit of TCS, the country’s largest IT services company, for the June quarter increased by 8.7 percent to Rs 12,040 crore. After this, TCS shares rose by almost seven percent on Friday.
Last week, the market valuation of ITC increased by Rs 31,858.83 crore to Rs 5,73,258.78 crore. Infosys’ market cap rose by Rs 26,905.14 crore to Rs 7,10,827.27 crore, while Life Insurance Corporation (LIC)’s valuation rose by Rs 22,422.12 crore to Rs 6,64,947.01 crore.
The market valuation of Hindustan Unilever rose by Rs 17,668.92 crore to Rs 6,16,156.81 crore and that of Reliance Industries jumped by Rs 9,066.19 crore to Rs 21,60,628.75 crore. Bharti Airtel’s market cap increased by Rs 1,910.5 crore to Rs 8,15,705.36 crore.
Contrary to this trend, the valuation of HDFC Bank declined by Rs 18,069.29 crore to Rs 12,35,825.35 crore. The market valuation of State Bank of India (SBI) declined by Rs 356.99 crore to Rs 7,67,204.26 crore. The market capitalization of ICICI Bank declined by Rs 210.5 crore to Rs 8,67,668.16 crore.
Reliance Industries remained at the first position among the top 10 companies of Sensex. It was followed by TCS, HDFC Bank, ICICI Bank, Bharti Airtel, State Bank of India, Infosys, LIC, Hindustan Unilever and ITC respectively.
