Last week saw a remarkable surge in the market capitalization of several of India’s premier companies, as the combined valuation of seven out of the top ten firms soared by an impressive Rs 2,10,254.96 crore. Notably, Reliance Industries and Tata Consultancy Services (TCS) stood out as the primary beneficiaries of this upward trend, reinforcing their positions among the most valued companies in the nation.
Market Overview: Sensex and Nifty Growth
During this period, the BSE Sensex experienced a significant increase, climbing 1,134.48 points, or 1.55%. Similarly, the NSE Nifty also showcased robust performance, rising 427.8 points, equating to a 1.93% gain. This positive momentum indicates a healthy market environment, encouraging investor confidence.
Major Gains in Market Capitalization
- Reliance Industries: The market cap surged by Rs 66,985.25 crore, bringing its total valuation to an impressive Rs 16,90,328.70 crore.
- Tata Consultancy Services (TCS): TCS saw a remarkable increase of Rs 46,094.44 crore, elevating its market valuation to Rs 13,06,599.95 crore. This growth not only solidifies TCS’s standing but also reinstates its position as the second most valuable firm in the country.
Additionally, several other companies reported significant gains:
- State Bank of India: Gained Rs 39,714.56 crore for a total market cap of Rs 6,53,951.53 crore.
- Bharti Airtel: Increased by Rs 35,276.3 crore, reaching Rs 9,30,269.97 crore.
- ITC: Rose by Rs 11,425.77 crore, with a market cap now at Rs 5,05,293.34 crore.
- ICICI Bank: Added Rs 7,939.13 crore, raising its valuation to Rs 8,57,743.03 crore.
- Hindustan Unilever: Gained Rs 2,819.51 crore, bringing its total to Rs 5,17,802.92 crore.
Declines in Market Valuation
Despite the overall gains, some companies faced setbacks:
- HDFC Bank: Experienced a decline of Rs 31,832.92 crore, with a market cap now at Rs 12,92,578.39 crore.
- Bajaj Finance: Saw a decrease of Rs 8,535.74 crore, lowering its valuation to Rs 5,20,981.25 crore.
- Infosys: Dipped by Rs 955.12 crore, adjusting its market cap to Rs 7,00,047.10 crore.
In conclusion, while Reliance Industries continues to be the most valued firm in India, the landscape of the top ten companies is dynamic, with TCS securing a strong position behind it. This recent surge reflects the resilience and potential of these industry leaders, setting a positive tone for future market developments.
