Last week marked a significant upswing in the market, as the combined valuation of nine of the top ten most valuable companies in India soared by an impressive ₹3,06,243.74 crore. This surge was fueled by a positive momentum in the equity markets that saw major players like ICICI Bank and Bharti Airtel leading the charge. The Bombay Stock Exchange (BSE) benchmark index experienced a remarkable increase, climbing 3,076.6 points or 4.16%, while the NSE Nifty also saw a robust gain of 953.2 points or 4.25%.
Major Gainers in Market Capitalization
- ICICI Bank topped the list with a staggering market capitalization increase of ₹64,426.27 crore, bringing its total to ₹9,47,628.46 crore.
- Bharti Airtel followed closely, seeing its valuation rise by ₹53,286.17 crore to reach ₹9,84,354.44 crore.
- HDFC Bank enjoyed substantial growth as well, adding ₹49,105.12 crore to reach a market cap of ₹13,54,275.11 crore.
Other Notable Increases
- Reliance Industries saw its market valuation gain ₹39,311.54 crore, pushing it to ₹17,27,339.74 crore.
- Bajaj Finance experienced an increase of ₹30,953.71 crore, bringing its total to ₹5,52,846.18 crore.
- Tata Consultancy Services (TCS) added ₹24,259.28 crore, resulting in a market cap of ₹12,95,058.25 crore.
Valuation Changes Among Top Firms
- State Bank of India‘s value rose by ₹22,534.67 crore, reaching ₹6,72,023.89 crore.
- Hindustan Unilever increased by ₹16,823.08 crore, totaling ₹5,28,058.89 crore.
- Infosys added a modest ₹5,543.9 crore, bringing its market cap to ₹6,61,364.38 crore.
A Rare Decline
In contrast to the overall positive trend, ITC was the only company in the top ten to experience a downturn, with its market cap decreasing by ₹7,570.64 crore to settle at ₹5,07,796.04 crore.
Current Rankings of Valuable Companies
As it stands, Reliance Industries retains its title as the most valuable company in India, followed by:
- HDFC Bank
- TCS
- Bharti Airtel
- ICICI Bank
- State Bank of India
- Infosys
- Bajaj Finance
- Hindustan Unilever
- ITC
The recent market activities highlight the resilience and potential of India’s leading firms, reflecting investor confidence and a bullish sentiment in the equity markets.
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