Mcap Of 7 Out Of Top 10 Indian Companies Jumps Rs 74,563 Crore; HDFC Bank Leads Gains
The majority of the gains were driven by an upmove in HDFC Bank, TCS, ICICI Bank, State Bank of India, Bajaj Finance, Hindustan Unilever and Life Insurance Corporation of India
The combined market valuation of seven of the top ten most valued Indian companies rose by Rs 74,573.63 crore in the week gone by. HDFC Bank emerged as the biggest gainer among the pack that includes companies like Reliance Industries, ICICI Bank and Tata Consultancy Services.
During the week, the benchmark Sensex advanced 780.71 points or 0.97%, while the Nifty 50 climbed 239.55 points or 0.97%, securing gains at a time when investor confidence has been impacted by geopolitical uncertainty.
The majority of the gains were driven by an upmove in HDFC Bank, TCS, ICICI Bank, State Bank of India, Bajaj Finance, Hindustan Unilever and Life Insurance Corporation of India, whereas Reliance Industries, Bharti Airtel and Infosys' saw valuation erosion.
HDFC Bank added Rs 30,106.28 crore, taking its market valuation to Rs 14.81 lakh crore, while the market capitalisation (mcap) of LIC jumped Rs 20,587.87 crore to Rs 5.72 lakh crore.
The valuation of State Bank of India surged Rs 9,276.77 crore to Rs 8 lakh crore, and that of Hindustan Unilever climbed Rs 7,859.38 crore to Rs 5.97 lakh crore.
ICICI Bank, on the other hand, saw market capitalisation gains of Rs 3,108 crore, taking its total valuation to Rs 9.75 lakh crore. Bajaj Finance, meanwhile, rose Rs 2,893 crore to Rs 6.15 lakh crore.
The market valuation of TCS rallied by Rs 741.71 crore to Rs 10.5 lakh crore.
However, Reliance Industries faced an erosion of Rs 19,351.44 crore from its market capitalisation, which stood at Rs 18.45 lakh crore.
The mcap of Bharti Airtel declined by Rs 12,031.45 crore to Rs 10.8 lakh crore, and that of Infosys dipped by Rs 850.32 crore to Rs 6 lakh crore.
Reliance Industries remained the most valued domestic firm, followed by HDFC Bank, Bharti Airtel, TCS, ICICI Bank, State Bank of India, Bajaj Finance, Infosys, Hindustan Unilever and LIC.
With inputs from PTI
