As the market remained volatile this entire week, the fluctuations in stock prices proved to be highly beneficial for three out of the total ten most valued companies in India – Reliance Industries Ltd, HDFC Bank and Hindustan Unilever (HUL).
The market valuation of three among the top ten most valued companies in India collectively surged by ₹70,312 crore in just the span of one week, with Reliance, HDFC and HUL becoming the top gainers of this week.
While Reliance saw the most massive growth in market valuation, HDFC and HUL rose side by side. Further, Tata Consultancy Services (TCS), ICICI Bank, Infosys, State Bank of India, ITC, Bharti Airtel, and Life Insurance Corporation of India (LIC) witnessed a combined market value rise by ₹68,783.2 crore.
Reliance was one of the primary companies which contributed to the historic rise of BSE Sensex in the month of December, when the benchmark index crossed the 71,000 points mark for the first time in history.
Mukesh Ambani-led Reliance had the most massive growth this week, rising by ₹47,021.59 crore and reaching the market value of ₹17,35,194.85 crore. Hindustan Unilever and HDFC Bank’s market valuation rose by ₹12,241 crore and ₹11,049 respectively.
Sensex, Nifty sees significant rise and fall
This month, both Sensex and Nifty ended up breaking their own records by crossing the 71,000 points and 21,000 points mark respectively. The rise in the markets was majorly due to the rise in stock of firms like TCS, Wipro, Reliance and major IT companies.
However, Sensex broke its record-breaking streak and fell over 930 points in a single day last week. Nifty also dropped below 21,200 points on the same day. The only firm which ended up gaining on the day was HDFC, with the share prices rising by less than 1 percent.
Reliance has retained its spot as the most valued company in India, followed by TCS, HDFC Bank, ICICI Bank, Infosys, Hindustan Unilever, State Bank of India, ITC, Bharti Airtel, and Life Insurance Corporation of India.