The market capitalisation of Reliance Industries (RIL) at the end of Friday’s trading was Rs 20.2 trillion. That’s humongous, considering that the gap with the second-largest Indian company — Tata Consultancy Services — is over Rs 5.5 trillion.
But RIL’s total m-cap was less than what Nvidia’s shares gained in just one day. The heavyweight chipmaker added $277 billion (Rs 22 trillion) in stock market value on Thursday, after the company’s quarterly report beat expectations and reignited a rally fuelled by optimism about artificial intelligence. In dollar terms, RIL’s m-cap is less than $250 billion.
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Oil prices eased on Tuesday after rallying more than 4% in the previous session, with traders cautious as they keeps tabs on potential supply disruptions amid military clashes between Israel and the Palestinian Islamist group Hamas.
Brent crude fell 30 cents, or 0.3%, to $87.85 a barrel by 0330 GMT, while U.S. West Texas Intermediate crude eased 31 cents, or 0.4%, to $86.07 a barrel.
Both benchmarks surged more than $3.50 on Monday as the clashes raised fears that the conflict could spread beyond Gaza into the oil-rich region. Hamas launched the largest military assault on Israel in decades on Saturday, while fighting continued into the night on Monday as Israel retaliated with a wave of air strikes on Gaza.
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