Market Surges for Top 3 Companies, While Others Face Collective Erosion

Market Surges for Top 3 Companies, While Others Face Collective Erosion

Asif Iqbal | December 24, 2023 | 10:16 PM IST | Breaking News | Follow on Google News

Market Surges for Top 3 Companies, While Others Face Collective Erosion

Market Surges for Top 3 Companies, While Others Face Collective Erosion

Amidst last week’s market fluctuations, the combined market capitalization of three of the top 10 most valued companies surged by ₹70,312.7 crore. Reliance Industries emerged as the primary gainer, leading alongside HDFC Bank and Hindustan Unilever. However, others in the top 10, including Tata Consultancy Services (TCS), ICICI Bank, Infosys, State Bank of India, ITC, Bharti Airtel, and Life Insurance Corporation of India (LIC), witnessed a collective erosion of ₹68,783.2 crore.

Despite a record-breaking rally, the BSE benchmark saw a decline of 376.79 points or 0.52% last week. Notably, Reliance Industries experienced a substantial increase of ₹47,021.59 crore, reaching a market valuation of ₹17,35,194.85 crore. Hindustan Unilever added ₹12,241.37 crore, bringing its valuation to ₹6,05,043.25 crore, while HDFC Bank’s market capitalization rose by ₹11,049.74 crore to ₹12,68,143.20 crore.

On the flip side, ICICI Bank’s market capitalization plummeted by ₹30,235.29 crore to ₹6,97,095.53 crore. TCS witnessed a decrease of ₹12,715.21 crore, reaching ₹13,99,696.92 crore, and State Bank of India faced a decline of ₹10,486.42 crore, settling at ₹5,68,185.42 crore. Infosys and ITC experienced decreases of ₹7,159.5 crore and ₹3,991.36 crore, reaching ₹6,48,298.04 crore and ₹5,67,645.03 crore, respectively. Bharti Airtel’s valuation dipped by ₹2,108.17 crore to ₹5,56,134.58 crore, and LIC witnessed a decline of ₹2,087.25 crore, settling at ₹5,01,635.57 crore.

In the hierarchy of the top 10 companies, Reliance Industries maintained its position as the most valued, followed by TCS, HDFC Bank, ICICI Bank, Infosys, Hindustan Unilever, State Bank of India, ITC, Bharti Airtel, and Life Insurance Corporation of India.

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Asif Iqbal

Asif Iqbal is a seasoned news writer with a passion for delivering the latest updates to the public. Currently serving as the senior writer at VoM News, a prominent news outlet known for its comprehensive coverage of diverse topics, Asif has established himself as a reliable source of information. With a keen eye for detail and a knack for storytelling, he consistently provides readers with well-crafted articles that cover a wide range of news categories. His dedication to journalistic integrity and his commitment to staying ahead of the news curve make him an invaluable asset to Vom News, ensuring that readers are always well-informed on the issues that matter most. You can find his work and stay updated on current events by visiting vomnews.in.