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Reliance Industries Made The Highest Gains In Market Cap In 2019
The Indian benchmark indices Sensex and Nifty 50 hit new all-time highs in the year 2019, thanks to record inflows from domestic as well as foreign investors into Indian stocks, which mainly helped large caps widen their market capitalisation.
Among them, Mukesh Ambani-led Reliance Industries Limited added Rs 2.49 trillion in market cap, which is not only the highest addition in 2019 but also the highest addition by an Indian company in a single year.
In fact, RIL beat its own record from 2017 where the conglomerate topped the list by adding Rs 2.3 trillion in market cap.
Tata Consultancy Services (TCS) also made a significant increase of Rs 1 trillion in market cap in 2019, while HDFC Bank and ICICI Bank added Rs 1.2 trillion each.
Overall, Indian companies increased their market cap by Rs 12 trillion last year. This is in contrast to 2018 when India's total market capitalization fell by Rs 6.28 trillion due to the selling spree seen especially in small and midcap stocks.
However, the sentiment seen in 2019 wasn't as strong as 2017, when Indian companies added a massive Rs 46 trillion in market cap.
Further, the gains seen in 2019 were largely from a few high-performing stocks.
Globally, the MSCI world index ended at record highs with the global stock market capitalization crossing past $ 87 trillion after a 24.90 percent increase.
