The top 10 most-valued firms gained a cumulative Rs 54,132.6 crore in market valuation on Wednesday, with Reliance Industries Ltd. and Tata Consultancy Services Ltd. emerging as the biggest gainers.
RIL witnessed a sharp rise among the top 10 most-valued firms, with a gain of Rs 33,357.3 crore, bringing its market capitalisation up to Rs 17.1 lakh crore. TCS saw an addition of Rs 28,980.8 crore in its market cap, which now stands at Rs 14.9 lakh crore.
ITC Ltd. and Bharti Airtel Ltd. added Rs 10,697.5 crore and Rs 4,756 crore respectively. HCL Technologies Ltd.'s market capitalisation rose Rs 4,436.8 crore to Rs 5.24 lakh crore, while Hindustan Unilever Ltd. saw an increase of Rs 2,396.6 crore, bringing its market cap to Rs 5.64 lakh crore.
Infosys Ltd.'s market capitatlisation increased Rs 955 crore to Rs 8.02 lakh crore.
State Bank of India recorded a decline of Rs 6,782.7 crore, taking its market cap to Rs 6.8 lakh crore. ICICI Bank Ltd. experienced a reduction of Rs 10,057.7 crore, bringing its market cap to Rs 8.92 lakh crore, while HDFC Bank Ltd. saw the steepest decline of Rs 14,607.1 crore, reducing its market cap to Rs 12.95 lakh crore.
RIL retained its position as the most-valued firm, followed by TCS, HDFC Bank, Bharti Airtel Ltd., ICICI Bank, Infosys, SBI, HUL, ITC, and HCLTech.
Indian equities sailed through a volatile session on Wednesday to end flat as the benchmark Nifty found vital support. A reversal of declines in information technology stocks helped offset losses in pharma and financials.
The NSE Nifty 50 ended 18.95 points or 0.08% lower at 23,688.95, while BSE Sensex lost 50.62 points or 0.06% to close at 78,148.49. During the session, the Nifty declined as much as 0.89% to an intraday low of 23,496, while the Sensex fell 0.91% to 77,486.
"We have seen wild swings in the market as if there is a tug of war between bears and bulls. The VIX has also spiked up as happens in January," Shivangi Sarda, analyst at Motital Oswal, said.
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