The combined market valuation of six of the top ten most valued firms surged by ₹1,97,734.77 crore last week, driven by positive trends in the equity market, with ICICI Bank and HDFC Bank leading the gains.
The BSE benchmark index climbed 1,653.37 points, or 1.99%, over the week, closing at a record high of 84,544.31 on Friday, after reaching an intraday peak of 84,694.46, an increase of 1,509.66 points or 1.81% during the day.
ICICI Bank saw its market valuation rise by ₹63,359.79 crore, reaching ₹9,44,226.88 crore, the largest increase among the top ten firms. HDFC Bank’s valuation grew by ₹58,569.52 crore, bringing its total to ₹13,28,605.29 crore.
Bharti Airtel’s market cap also rose by ₹44,319.91 crore to ₹9,74,810.11 crore, while Reliance Industries’ valuation increased by ₹19,384.07 crore, reaching ₹20,11,544.68 crore. Hindustan Unilever’s market cap rose by ₹10,725.88 crore to ₹7,00,084.21 crore, and ITC’s valuation went up by ₹1,375.6 crore to ₹6,43,907.42 crore.
In contrast, Tata Consultancy Services (TCS) experienced a significant decline in market capitalization, dropping by ₹85,730.59 crore to ₹15,50,459.04 crore. Infosys’ valuation fell by ₹15,861.16 crore to ₹7,91,438.39 crore, and Life Insurance Corporation of India (LIC) saw a decrease of ₹14,832.12 crore, bringing its total to ₹6,39,172.64 crore. State Bank of India also saw a decline of ₹7,719.79 crore, ending at ₹6,97,815.41 crore.
Currently, Reliance Industries is the most valued firm, followed by TCS, HDFC Bank, Bharti Airtel, ICICI Bank, Infosys, Hindustan Unilever, State Bank of India, ITC, and LIC.
