Market Cap: The last week of the year is good for the Indian stock market. In five days, the Sensex rose 1.62 percent or 1,152.39 points to reach 72,240.26. Whereas, Nifty rose by 2.24 percent i.e. 475.15 points to reach 21,731.40. Meanwhile, the market capitalization (market cap) of eight of the top 10 Sensex companies collectively increased by Rs 1,29,899.22 crore last week. In the last week of low trading sessions, the 30-share BSE Sensex gained 1,133.3 points or 1.59 percent. The Sensex reached its all-time high of 72,484.34 points on December 28. The stock markets were closed on Monday on the occasion of ‘Christmas’. In the week under review, the market capitalization of Reliance Industries, HDFC Bank, ICICI Bank, Hindustan Unilever, Bharti Airtel, ITC, State Bank of India (SBI) and Life Insurance Corporation of India (LIC) increased. At the same time, the market position of Tata Consultancy Services (TCS) and Infosys decreased. During the week, the market valuation of HDFC Bank increased by Rs 29,828.84 crore to reach Rs 12,97,972.04 crore. The market valuation of LIC increased by Rs 25,426.49 crore and stood at Rs 5,27,062.06 crore.
Reliance’s dominance continues
The market capitalization of Bharti Airtel increased by Rs 24,510.96 crore to Rs 5,80,645.54 crore and that of Hindustan Unilever increased by Rs 20,735.14 crore to reach Rs 6,25,778.39 crore. The market capitalization of Reliance Industries increased by Rs 13,633.07 crore to reach Rs 17,48,827.92 crore. ITC’s valuation jumped by Rs 9,164.74 crore to Rs 5,76,809.77 crore. SBI added Rs 4,730.04 crore during the week and its market capitalization reached Rs 5,72,915.46 crore. ICICI Bank’s valuation increased by Rs 1,869.94 crore to Rs 6,98,965.47 crore. Contrary to this trend, the market capitalization of TCS declined by Rs 11,105.22 crore to Rs 13,88,591.70 crore. Infosys’ market capitalization declined by Rs 7,946.24 crore to Rs 6,40,351.80 crore. Reliance Industries remained at first position in the list of top 10 companies. After that, TCS, HDFC Bank, ICICI Bank, Infosys, Hindustan Unilever, Bharti Airtel, ITC, SBI and LIC were ranked respectively.
2023 will be memorable for the market
2023 was a memorable year for the stock market… On the basis of positive factors, there was a strong rise in the shares and investors of Dalal Street added Rs 80.62 lakh crore to their wealth this year. Experts believe India’s strong macroeconomic fundamentals, political stability driven by the Bharatiya Janata Party’s (BJP) victory in the recent elections in three states, an optimistic corporate earnings outlook, and three possible rate cuts by the US Federal Reserve next year. Taking signals and participation of heavy retail investors played an important role in boosting the stock market in 2023. Till December 28 this year, the 30-share BSE Sensex gained 11,569.64 points or 19 percent. So far this year, the market capitalization of BSE listed companies has increased by Rs 80,62,310.14 crore to reach an all-time high of Rs 3,63,00,558.07 crore. Market valuations of BSE-listed companies had reached the highest level at the end of trading on Thursday.
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