Market Recap: The Rise and Fall in Market Valuations - Winners and Losers

LIC and SBI lead with substantial gains, while others face erosion in their valuations. Gain insights into the market dynamics, trends, and rankings in this comprehensive recap.

Gobind Arora
Published on: 11 Feb 2024 12:17 PM GMT
Weak global cues subdue equity indices; banking stocks down

Market Recap: The Rise and Fall in Market Valuations - Winners and Losers

In a week marked by fluctuations in the stock market, four of the top-10 most valued firms witnessed a collective surge of ₹2.18 lakh crore in market valuation. Notably, Life Insurance Corporation (LIC) and State Bank of India (SBI) emerged as the biggest gainers, while others faced erosion in their valuations.

**Market Winners: LIC and SBI Lead the Pack**

The standout performers in the market were LIC and SBI, with both entities experiencing significant gains. LIC's market valuation soared by ₹86,146.47 crore, reaching ₹6,83,637.38 crore. This surge was accompanied by a nearly 6% increase in LIC's share price, breaking the ₹1,000 mark for the first time. SBI, not to be outdone, added ₹65,908.26 crore, elevating its valuation to ₹6,46,365.02 crore.

**Top-10 Gainers and Their Contributions**

Among the top-10 gainers, Reliance Industries and Tata Consultancy Services (TCS) also made substantial contributions. TCS witnessed a market valuation increase of ₹61,435.47 crore, crossing the ₹15 lakh crore mark. Reliance Industries saw a rise of ₹5,108.09 crore, reaching ₹19,77,136.54 crore.

**Market Losers: Erosion in Valuations**

However, not all companies shared in the gains. Several prominent names faced erosion in their valuations. HDFC Bank, ICICI Bank, Infosys, Bharti Airtel, Hindustan Unilever, and ITC collectively experienced a decline of ₹1,06,631.39 crore.

HDFC Bank's market capitalization declined by ₹32,963.94 crore to ₹10,65,808.71 crore, while ITC witnessed an erosion of ₹30,698.62 crore, reaching ₹5,18,632.02 crore. Bharti Airtel faced a fall of ₹16,132.15 crore to ₹6,31,044.50 crore, and Infosys saw a dip of ₹10,044.09 crore, reaching ₹6,92,980.35 crore.

**Market Insights: The Week in Review**

The market dynamics last week were influenced by a decline of 490.14 points or 0.67% in the BSE benchmark. Despite this, the buoyancy in certain stocks, particularly in the financial sector with LIC and SBI, contributed to an overall positive trend.

**The Top 10 Most Valued Firms: Rankings Remain Consistent**

In the hierarchy of the top-10 most valued firms, Reliance Industries maintained its lead, followed by TCS, HDFC Bank, ICICI Bank, Infosys, LIC, SBI, Airtel, Hindustan Unilever, and ITC.

As markets continue to navigate through varying trends, investors remain attentive to the dynamic shifts in valuations, seeking opportunities amid the ever-evolving landscape.

Gobind Arora

Gobind Arora

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