TCS and Infosys performed the best in the stock market last week. Both the companies added the highest amount of rupees in the market cap. Apart from this, there was also a rise in the stocks of banks.
The rise in the stock market
Six of the 10 most valuable Sensex companies added around Rs 1.11 lakh crore to the market cap last week. Shares of TCS and Infosys were the biggest gainers. Apart from this, the market valuation of HDFC Bank, ICICI Bank and State Bank of India also saw an increase. The midcap of Tata Consultancy Services rose by Rs 30,961.06 crore to Rs 12,50,538.30 crore. At the same time, Infosys added 29,807.59 crores to its valuation, which was 6,70,915.93 crores from the previous week.
These stocks fell
Reliance Industries, Hindustan Unilever Limited, Bajaj Finance and Kotak Mahindra Bank saw a decline in the market capitalization. The market capitalization of Reliance Industries declined by Rs 76,548.77 crore to Rs 13,34,009.02 crore. On the other hand, the market cap of HUL declined by Rs 7,424.7 crore to Rs 5,75,449.55 crore and that of Kotak Mahindra Bank by Rs 5,084.82 crore to Rs 3,43,934.41 crore. The market cap of Bajaj Finance has come down by 763.55 crores to 3,66,662.44 crores.
Market valuation of banks increased
The shares of banks saw a rise in the last week. During this period, the market valuation of the country’s largest private bank HDFC Bank increased by Rs 19,838.88 crore. Now it has increased to 8,36,426.69 crores. State Bank of India’s 14,234.76 crore increased to 3,82,642.72 crore. At the same time, the valuation of ICICI Bank rose by Rs 12,775.99 crore to Rs 4,49,166.77 crore and that of HDFC by Rs 3,602.22 crore to Rs 4,52,778.40 crore. The 30-share BSE benchmark rose 580.59 points or 1.10 per cent during the last week.
Record made in domestic stock market
Due to good global cues, the domestic stock market recently set a record. Sensex crossed the 53,000 level for the first time due to buying in banking and auto stocks. Reached an all-time high of 53,057.11 during trading. While Nifty was also above 15,880 with a gain of 140 points. Investors have gained more than Rs 2.50 lakh crore on Tuesday due to the spectacular boom in the market. Midcap and smallcap stocks were heavily bought during the business.
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