M-cap of 6 top firms jumps ₹1.62L crore, Airtel leads
What's the story
The combined market capitalization of six out of the top 10 most-valued companies in India rose by ₹1.62 lakh crore last week. The surge was led by Bharti Airtel and Reliance Industries, mirroring a bullish trend in equities. The BSE Sensex index also witnessed a significant jump, rising by 1,289.57 points or 1.58%.
Market leaders
Bharti Airtel, Reliance were top gainers
Bharti Airtel's market capitalization surged by ₹54,055.96 crore to ₹11,04,469.29 crore last week. Meanwhile, Reliance Industries added ₹50,070.14 crore to its valuation, taking it to a whopping ₹19,82,033.60 crore. HDFC Bank's valuation also jumped by ₹38,503.91 crore to ₹15,07,281.79 crore, while Infosys saw an increase of ₹8,433.06 crore in its market capitalization during the same period, reaching ₹6,73,751.09 crore.
Other gainers
ICICI Bank and SBI also witnessed significant gains
The market capitalization of ICICI Bank rose by ₹8,012.13 crore to ₹10,18,387.76 crore last week. State Bank of India (SBI)'s valuation also gained by ₹3,212.86 crore during the same period, taking it to ₹7,10,399.75 crore. These gains contributed significantly to the overall rise in market capitalization among top Indian firms last week.
Market losers
Bajaj Finance was the biggest loser
Despite the overall positive trend, some companies witnessed a dip in their market capitalization last week. Bajaj Finance's valuation fell by ₹17,876.42 crore to ₹5,62,175.67 crore. Tata Consultancy Services (TCS) also saw a drop of ₹4,613.06 crore in its market capitalization to ₹12,42,577.89 crore during the same period. Hindustan Unilever's valuation was down by ₹3,336.42 crore to ₹5,41,557.29 crore last week. Life Insurance Corporation of India (LIC)'s valuation fell by ₹1,106.88 crore to ₹5,92,272.78 crore during the period under review.