Seven of the top-10 companies in the Indian markets gained in market valuation last week. Reliance Industries led the group of top valued blue-chip companies. Among the gainers were the State Bank of India, HDFC Bank, HDFC, ICICI Bank, Bajaj Finance, and Infosys.
With over Rs. 1.35 lakh crore addition in the market capitalization of Reliance industries, the company has been the highest contributor. The second highest contributor was ICICI Bank with an addition of Rs. 28,800 crore to its value.
Summary of Last Trading Week
The trading week began on the 6th of December when Nifty opened at 17,209 and witnessed a sell-off to hit a low of 16,891. After taking support there, the market started inching higher to make a high of 17,543. The trading week ended on a positive note slightly lower than the week’s high at 17,511 on 10th December 2021. More than 600 points rally from the week’s low added value to the blue-chip companies.
Similarly, the Bombay Stock Exchange’s Sensex opened at 57,778 and made a low of 56,688 owing to the sell-off. Later the rally took the index to a weekly high of 58,889 to end the last session at 58,739. The Sensex has seen a rally of over 2000 points.
- Nifty Bank gained about 1,400 points in one week. It opened at 36,252. It made a high of 37,397 after hitting a low of 35,696.
- On the other hand, the Nifty IT made a stunning recovery of about 1200 points from the low of 34,756 and closed at 35,939.
- This bullish performance in the banking and IT sector was led by the companies like HDFC Bank, SBI, ICICI Bank, and Infosys, respectively to name a few.
Value Addition by Major Giants
With an increment of over Rs. 1.35 lakh crore in the valuation of Reliance Industries, its total market capitalization is now more than Rs. 16.5 lakh crore. The second highest contributor ICICI Bank rose in valuation by Rs. 28,800 crores to Rs. 5,26,170 crore.
Over the week, Infosys added 9,988 crores to its valuation, while HDFC Bank’s market value increased by 5,125 crores. State Bank of India’s market capitalization has increased by 19,187.91 crores.
The valuation of two leading private finance companies, HDFC and Bajaj Finance, rose significantly in the last couple of years. The previous week added Rs. 7,050 crores to HDFC’s valuation whereas close to Rs. 23,000 crore were added to the valuation of Bajaj Finance.
On the contrary, the valuation of Tata Consultancy Services slid by Rs. 1,147 crores to Rs. 13,45,178 crore and that of HUL tumbled by Rs. 2400 crore to Rs. 5.48 lakh crore. Bharti Airtel’s market value declined by Rs. 4,257 crores to 3.91 lakh crore.
What is market capitalization?
Market capitalization is a simple and effective method of evaluating a company’s value. It uses the total market value of the company’s shares. The formula for market capitalization is the total number of outstanding shares of the company multiplied by the current market price per unit. It is a vital aspect of a company’s evaluation. It can help investors make informed decisions about the stocks they should buy and sell.
What are Nifty Bank and Nifty IT?
Nifty Bank and Nifty IT are sectoral indices. Like Nifty 50 has companies from different sectors, Nifty Bank has only banking companies and Nifty IT has only information technology companies. Like any other index, the purpose of sectoral indices is also similar. These sectoral indices portray the overall progress of a particular sector compared to the overall economic health of the country.
Which are India’s top 10 companies in terms of valuation?
As far as valuation is concerned, the list of India’s top 10 companies includes Tata Consultancy Services, Reliance Industries, Bajaj Finance, Bharti Airtel, ICICI Bank, HDFC, HDFC Bank, SBI, HUL, and the tech giant Infosys.