India's top 10 most-valued firms added a cumulative Rs 62,017 crore in market valuation on Monday, led by TCS Ltd. and Reliance Industries Ltd. ITC Ltd. and Hindustan Unilever Ltd. were among the losers in the session.
TCS added Rs 15,499 crore to its market capitalisation, taking it to Rs 16.3 lakh crore, and Reliance Industries approximately added Rs 14,377 crore in market capital to Rs 20.44 lakh crore. HDFC Bank Ltd., ICICI Bank Ltd., Infosys Ltd., Larsen & Toubro Ltd., Bharti Airtel Ltd., and SBI were also among the gainers on the day.
The NSE Nifty 50 logged its longest stretch of gaining streak in more than a year to end above the psychologically crucial 25,000 mark on Monday after 16 sessions, and the S&P BSE Sensex extended its gains for the fifth consecutive session. The rally came after dovish commentary by US Fed Chair Jerome Powell at the Jackson Hole symposium, which confirmed a September rate cut in the US.
The Nifty closed 187.45 points, or 0.76%, higher at 25,010.60, and the Sensex was 611.90 points, or 0.75%, up at 81,698.11. Both indices closed at their highest levels since Aug. 1.
The market capitalisation of HUL fell from Rs 1,362 crore to Rs 6.60 lakh crore. ITC also lost marginally Rs 125 crore in market cap to Rs 6.31 lakh crore.
RIL remained the most valued firm, followed by TCS, HDFC Bank, Airtel, ICICI Bank, Infosys, SBI, Hindustan Unilever Ltd., ITC, and L&T.
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