The Market Valuation Of SBI Increased By Rs 3,034.37 Crore
The market valuation of SBI increased by Rs 3,034.37 crore. The market cap of seven of the top 10 Sensex companies decreased by Rs 1.54 lakh crore, understanding the market trend.
The market cap of seven of the top 10 Sensex companies collectively fell by Rs 1,54,477.38 crore last week.
The biggest losers were IT companies Tata Consultancy Services (TCS) and Infosys. Last week, the 30-share BSE Sensex fell 812.28 points or 1.36 percent.
During the week, the market cap of only Reliance Industries, ICICI Bank, and State Bank of India (SBI) increased. TCS’s market cap fell by Rs 59,862.08 crore to Rs 11,78,818.29 crore in the reporting week.
The correction came after a long boom.
The market valuation of Infosys came down to Rs 6,40,351.57 crore from a loss of Rs 31,789.31 crore. HDFC Bank’s market position declined by Rs 16,090.67 crore to Rs 8,13,952.05 crore.
The market valuation of Hindustan Unilever declined by Rs 14,814.18 crore to Rs 6,04,079.91 crore.
LIC’s market cap was reduced.
Similarly, the market position of Bajaj Finance declined by Rs 14,430.4 crore to Rs 4,27,605.59 crore and that of HDFC declined by Rs 13,031.62 crore to Rs 4,34,644.36 crore.
The market valuation of Life Insurance Corporation (LIC) declined by Rs 4,459.12 crore to Rs 4,29,309.22 crore.
SBI has increased.
Contrary to this trend, the market capitalization of Reliance Industries rose by Rs 3,500.56 crore to Rs 17,71,645.33 crore.
The market valuation of SBI increased by Rs 3,034.37 crore to Rs 4,67,471.16 crore and that of ICICI Bank by Rs 523.02 crore to Rs 6,06,330.11 crore.
Reliance Industries retained the first position in the list of top 10 companies. It was followed by TCS, HDFC Bank, Infosys, ICICI Bank, Hindustan Unilever, SBI, HDFC, LIC, and Bajaj Finance respectively.
Huge fall in the US market.
On Friday, the US markets also closed with a heavy fall. The S&P closed 141.6 points (3.37 percent), the Nasdaq 497.56 points (3.94 percent), and the Dow Jones down 1008.38 points (3.03 percent).
Investors are apprehensive that the central bank may increase interest rates by 50 basis points in the next meeting. At the same time, some experts are predicting to increase it up to 75 basis points.
