Six top Indian firms add ₹86,848cr to market cap
What's the story
Six of India's most valued companies have together added a whopping ₹86,848 crore to their market capitalization last week. The impressive surge was led by HDFC Bank and Reliance Industries (RIL), indicating a positive trend in the equity market. Meanwhile, the BSE benchmark Sensex rose by 657.48 points or 0.84% and Nifty increased by 225.9 points or 0.95% during the same period.
Market leaders
HDFC Bank and RIL lead market cap surge
HDFC Bank and RIL emerged as the biggest gainers in this market cap rally. The former's market cap rose by ₹20,236 crore to ₹13.75 lakh crore, while the latter added ₹20,231 crore to reach a valuation of ₹16.52 lakh crore. Other companies that witnessed a major surge include ICICI Bank, Bharti Airtel, ITC, and Hindustan Unilever Limited (HUL).
Additional gainers
Other firms witness market cap growth
ICICI Bank's market cap increased by ₹15,254 crore to ₹9.23 lakh crore, while Bharti Airtel's valuation jumped by ₹11,948 crore to ₹9.11 lakh crore. ITC also saw a massive surge in its market capitalization with a ₹17,933 crore jump to ₹5.99 lakh crore. HUL's market cap jumped by a modest ₹1,245 crore to ₹5.50 lakh crore last week.
Market losses
Some firms face market cap erosion
Despite the overall positive trend, some companies saw a dip in their market capitalization. State Bank of India's valuation dropped by ₹11,557 crore to ₹7.14 lakh crore, while Life Insurance Corporation of India (LIC) witnessed a dip of ₹8,412 crore to ₹5.61 lakh crore. Infosys also witnessed a dip in its market cap by ₹2,284 crore to settle at ₹7.96 lakh crore last week.
Dominance
RIL retains position as most valued domestic firm
Despite the ups and downs in market cap, RIL remained the most valued domestic firm. It was followed by Tata Consultancy Services (TCS), HDFC Bank, ICICI Bank, Bharti Airtel, Infosys, State Bank of India (SBI), ITC, LIC and HUL. TCS saw a minor decline in its market cap by ₹36 crore to settle at ₹15.08 lakh crore last week.