Top Indian firms add ₹2L crore as markets rebound
What's the story
The combined market capitalization of eight out of the top 10 most valuable companies in India surged by ₹2,05,185.08 crore last week. The spike was led by Bharti Airtel and Reliance Industries Limited (RIL). The BSE Sensex gained 1,346.5 points (1.62%) while the NSE Nifty rose 417.75 points (1.64%), marking a strong recovery from recent losses in the Indian stock market.
Market leaders
Bharti Airtel and RIL lead the market
Bharti Airtel's market capitalization soared by ₹55,652.54 crore to ₹11,96,700.84 crore. Meanwhile, RIL's valuation jumped by ₹54,941.84 crore to ₹20,55,379.61 crore during the same period. The gains were part of a broader trend in which several top companies saw their market values increase significantly last week amid a strong rebound in Indian stock markets after a recent phase of weakness.
Market performance
Other companies also witness significant market gains
Other top companies that witnessed a rise in their market capitalization include Tata Consultancy Services (TCS) and ICICI Bank. TCS's valuation jumped by ₹40,757.75 crore to ₹11,23,416.17 crore while ICICI Bank's climbed by ₹20,834.35 crore to ₹9,80,374.43 crore during the same period last week. The State Bank of India (SBI)'s market capitalization rose by ₹10,522.9 crore to ₹8,92,923.79 crore last week. Infosys's valuation also saw an increase of ₹10,448.32 crore to reach ₹6,24,198.80 crore during the same period last week.
Information
HDFC Bank and Hindustan Unilever's m-cap rises
HDFC Bank's market capitalization increased by ₹9,149.13 crore to ₹15,20,524.34 crore last week. Hindustan Unilever's valuation also witnessed an increase of ₹2,878.25 crore to reach ₹5,70,187.06 crore during the same period last week amid strong stock market performance across various sectors.
Market dip
Bajaj Finance and LIC experience decline
Bajaj Finance's market capitalization fell by ₹30,147.94 crore to ₹6,33,573.38 crore last week. Life Insurance Corporation of India (LIC)'s valuation also witnessed a decline of ₹9,266.12 crore to reach an m-cap of ₹5,75,100.42 crore during the same period last week. These declines occurred despite strong stock market performance across various sectors.