Top Companies Drive Market Valuation Surge on BSE

Business View
4 Min Read

Despite being a long weekend, the stock market performed well on BSE. Even the combined market valuation of top companies surged up to Rs 67,259.99 crore. Seven of the 10 most valued firms are responsible for this growth including Reliance Industries which appeared as the biggest gainer, amidst an overall positive trend in equities. It is worth noting that last week, the stock market was open for only three trading sessions. On Monday, March 25 the market was closed due to Holi and on Friday it was closed due to Good Friday. 

Share Market Highlights Of The Final Trading Day Of FY24

The Indian stocks raised on Thursday, 29 March 2024 which was the final trading day of FY24. The BSE Sensex surged 655.04 points or 0.90 per cent to shut down at 73,651.35. On the other hand, NSE Nifty climbed 203.25 points or 0.92% to close at 22,326.90. Speaking about the BSE benchmark, it surged up to 819.41 points or 1.12%. BSE stocks advanced by 1,989 against 1,808 declines, with 96 unchanged. 128 stocks were recorded as a 52-week high and 139 stocks were settled down in a 52-week low. 

Market Valuation Of Most Valued Companies  

Speaking about the market valuation of Reliance Industries, this firm is the biggest gainer as the market valuation of this firm has climbed up to Rs 45,262.59 crore amounting to Rs 20,14,010.63 Crore. 

The valuation of the State Bank of India jumped Rs 5,533.26 crore to reach Rs 6,71,666.29 crore. 

The next company whose market valuation has increased is Life Insurance Corporation of India. LIC added Rs 5,218.12 crore to reach Rs 5,78,484.29 crore. 

The valuation of ICICI Bank raised Rs 4,132.67 crore to Rs 7,69,542.65 crore. Whereas the valuation of HDFC Bank advanced Rs 4,029.69 crore to reach Rs 11,00,184.60 crore. 

Hindustan Unilever added Rs 2,819.51 crore which increased the market valuation of the company to Rs 5,32,946.04 crore. The market capitalisation of ITC increased from Rs 264.15 crore to Rs 5,35,032.74 crore. 

The market capitalization of Tata Consultancy Services (TCS) was reduced by Rs 10,691.45 crore to Rs 14,05,102 crore. 

Another company whose valuation went lower is Infosys, this firm faced a loss of Rs 4,163.13 crore which automatically lowered its mcap which is now Rs 6,22,117.38 crore. 

The next company whose valuation has changed on the negative side is Bharti Airtel. Its valuation dropped by Rs 3,817.18 crore and stood at Rs 6,95,038.48 crore. 

As the above information shows, Reliance Industries emerged as the biggest gainer in the list of the top-valued companies. The rest of the top-valued companies are TCS,  HDFC Bank, ICIC Bank, Bharti Airtel, and State Bank of India. Despite the reduction in market valuation, Infosys made its way into the list of most valued firms including LIC, ITC and Hindustan Unilever.  

April 1, 2024, Trading Session

In today’s (April 1) trading session, the Indian equity benchmark Nifty50 achieved a new high of 22,529.95 levels, marking the start of FY 2024–25. Sensex rose to 0.77 % or 567.59 points at 74,218.94. As we already mentioned the market valuation of all listed firms on BSE jumped from Rs 4.7 lakh crore to Rs 391.67 lakh crore. Speaking about the biggest gainers of Sensex in early trade are HDFC Bank, JSW Steel, Kotak Bank, Infosys, and Tata Steel which started with a higher percentage of 1-2%. Tata Motors, Bajaj Finserv, HCL Tech, and L&T also surged. 

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