The domestic stock market closed for the fourth consecutive week despite Corona wreaking havoc across the world, including India. The major sensitive indices Sensex and Nifty recorded weekly gains of more than one and a half percent as compared to the previous week. During the week, the Bombay Stock Exchange (BSE) Sensex, based on 30 stocks, closed in the last session of the week at 36594.33, up 572.91 points or 1.59 per cent over the previous week on Friday. On the other hand, the National Stock Exchange (NSE) 50-share sensitive index Nifty also gained 160.70 points, or 1.51 per cent, to close at 10,768.05.
Reliance Industries gained the most during the week. During the period, the market value of six of the top 10 Sensex companies rose by Rs 1,03,625 crore last week. About half of it belonged to Reliance Industries alone. The market capitalization of Reliance Industries, Tata Consultancy Services (TCS), HDFC Bank, Hindustan Unilever (HUL), Infosys and HDFC increased during the week. The market valuations of Bharti Airtel, Kotak Mahindra Bank, ITC and ICICI Bank declined.During this period, the market capitalization of Reliance Industries increased by Rs 57,688 crore to Rs 11,90,857 crore. HDFC Bank’s market valuation rose by Rs 17,102 crore to Rs 6,06,868 crore and Hindustan Unilever rose by Rs 12,088 crore to Rs 5,22,481 crore. TCS ‘market share rose by Rs 8,499 crore to Rs 8,33,648 crore. Similarly, the market capitalization of Infosys increased by Rs 8,178 crore to Rs 3,32,981 crore and HDFC by Rs 69 crore to Rs 3,27,190 crore.
On the other hand, ITC’s market valuation declined by Rs 16,041 crore to Rs 2,38,838 crore. Bharti Airtel’s market position declined by Rs 3,491 crore to Rs 3,13,531 crore. Kotak Mahindra Bank’s valuation dropped by Rs 791 crore to Rs 2,67,040 crore. ICICI Bank’s market capitalization fell by Rs 421 crore to Rs 2,33,362 crore. Reliance Industries retained the first position in the list of top 10 companies. It was followed by TCS, HDFC Bank, HUL, Infosys, HDFC, Bharti Airtel, Kotak Mahindra Bank, ITC and ICICI Bank respectively.
