₹1 Lakh Crore Boost in Market Cap for 4 Firms, Biggest Gains in Insurance Sector
Mumbai (The Uttam Hindu): The market capitalization of 4 out of the top 10 companies of the country has increased by Rs 1,01,370 crores last week. During this period, the market cap of Life Insurance Corporation of India (LIC) has increased the most. Apart from this, the market cap of State Bank of India (SBI), Bharti Airtel and HDFC Bank has increased. At the same time, the market cap of TCS, Reliance Industries, ICICI Bank, Bajaj Finance, HUL and Infosys has declined.
LIC's market cap rose the most by Rs 59,223.61 crore to Rs 6,03,120.16 crore. SBI's market capitalization rose by Rs 19,589.54 crore to Rs 7,25,036.13 crore.
Bharti Airtel's market valuation rose by Rs 14,084.20 crore to Rs 10,58,766.92 crore. HDFC Bank's market capitalisation rose by Rs 8,462.15 crore to Rs 14,89,185.62 crore.
Companies that suffered a drop in market valuation include TCS, whose market cap fell by Rs 17,909.53 crore to Rs 12,53,486.42 crore. Reliance Industries' valuation fell by Rs 7,645.85 crore to Rs 19,22,693.71 crore.
The market cap of Bajaj Finance declined by Rs 4,061.05 crore to Rs 5,70,146.49 crore, while the market cap of ICICI Bank fell by Rs 2,605.81 crore to Rs 10,31,262.20 crore.
At the same time, the valuation of Hindustan Unilever Limited fell by Rs 1,973.66 crore to Rs 5,52,001.22 crore and the market valuation of Infosys fell by Rs 656.45 crore to Rs 6,49,220.46 crore.
The next week is going to be very important for the Indian stock market. The impact of RBI MPC, PMI, FII activity and upcoming global economic data will be seen on the market.
At the domestic level, the S&P Global Manufacturing PMI data will be released on June 2. This will provide information about the state of the country's manufacturing sector. At the same time, the three-day meeting of the Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) will begin on June 4 and its results will be announced by the RBI Governor on June 6. A decision will be taken on interest rates in this meeting, which will affect the movement of the stock market.