The HDFC has crossed Rs.8 trillion in market capitalization on Wednesday. It is India’s third company to reach this incredible milestone. It is also the bank to achieve this. Intraday trading touched a record of Rs.1,464 on BSE and lifted the market capitalization to Rs.8.02 trillion.
The Tata Consultancy Services Ltd and Reliance Industries LTD were the only two to have achieved this milestone. Reliance has a market value of RS.13.17 trillion, making it India’s most valued company.
The BSE Sensex ended at 43,828.10, down 694.92 points, or 1.56%, while the Nifty50 index closed at 12,858.40, down 196.75 points, or 1.51% lower.
The investors are now waiting for the September Gross Domestic Product data which will be released tomorrow. It is expected to show a recovery when compared to June. Some are expecting the GDP to shrink by 9.9%.
However, it was said by Care Ratings that positive growth is expected in agriculture, forestry, financial services, real estate, and professional services.
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