The previous week witnessed significant fluctuations in the Indian Stock Market. Among the Bombay Stock Exchange's Sensex Top-10 Firms, four made substantial profits, while six major companies faced losses. During this period, the largest insurance corporation of India, LIC, rewarded its investors with an impressive ₹60,000 crore in just five business days. In contrast, investors in giants like Reliance and TCS incurred losses.
Market Slips Yet Yields Profit
Despite a sluggish stock market, the BSE Sensex recorded a decline of 270.07 points, or 0.33%. Nevertheless, four top companies amassed over ₹1.01 lakh crore collectively. These were LIC, HDFC Bank, Bharti Airtel, and SBI. Meanwhile, companies under Mukesh Ambani's leadership, such as Reliance and Tata Group's TCS, alongside ICICI Bank, Infosys, Bajaj Finance, and HUL, faced significant losses.
LIC Fuels Investor Cheer
The Life Insurance Corporation of India (LIC) shares caused a stir last week in the stock market. In a span of five days, its share prices surged by 9.94% dramatically impacting the market valuation, reaching ₹6,03,120.16 crore. Thus, in these five days alone, LIC investors accrued ₹59,233.61 crore.
Source: aajtak
Gains from SBI to HDFC Bank
Besides LIC, other companies that thrived in the volatile market included India’s largest state-owned bank, SBI, with an increase of ₹19,589.54 crore in Market Cap, reaching ₹7,25,036.13 crore. Bharti Airtel's market value soared by ₹14,084.2 crore, hitting ₹10,58,766.92 crore. Meanwhile, HDFC's Market Cap surged by ₹8,462.15 crore to ₹14,89,185.62 crore.
Six Companies Suffer Dips
While some investors celebrated, others faced losses, notably those in Reliance and TCS, among six affected companies. TCS led the losses, with its market value dropping by ₹17,909.53 crore to ₹12,53,486.42 crore over five trading days. Similarly, Reliance Industries' Market Cap fell by ₹7,645.85 crore, now standing at ₹19,22,693.71 crore.
Bajaj Finance's Market Cap decreased by ₹4,061.05 crore to ₹5,70,146.49 crore, ICICI Bank's fell by ₹2,605.81 crore to ₹10,31,262.20 crore, and Hindustan Unilever's market value reduced by ₹1,973.66 crore, landing at ₹5,52,001.22 crore. Meanwhile, Infosys, India's second-largest IT company, saw a valuation reduction of ₹656.45 crore, now at ₹6,49,220.46 crore.
Reliance Dominates Top-10 List
Despite encountering losses, Mukesh Ambani's Reliance Industries maintained its position as the most valuable company in the nation's Top-10 list. Following were HDFC Bank in second place and TCS in third. Their rankings were succeeded by Bharti Airtel, ICICI Bank, SBI, Infosys, LIC, Bajaj Finance, and HUL.
