India's top 7 firms add ₹2.16L crore in market cap
What's the story
The combined market capitalization of seven out of India's top 10 companies increased by ₹2.16 lakh crore last week. The surge was led by Reliance Industries and Bharti Airtel, reflecting the overall positive trend in equities. The BSE benchmark index also witnessed a significant jump of 1,451 points or 1.75% during the same period.
Market leaders
Reliance, Airtel lead the surge
Reliance Industries saw its market valuation increase by ₹47,363.65 crore to ₹19,17,483.71 crore last week. This was the highest jump among the top 10 companies. Bharti Airtel's market cap also rose by ₹41,254.73 crore to reach a total of ₹11,47,235.08 crore during the same period.
Other gainers
Banks and Bajaj Finance also witness significant gains
ICICI Bank's market capitalization jumped by ₹40,123.88 crore to ₹10,26,491.35 crore last week. HDFC Bank also witnessed a similar surge, with its valuation rising by ₹33,185.59 crore to reach a total of ₹15,40,210.78 crore. Bajaj Finance's valuation increased by ₹28,903.45 crore, while Hindustan Unilever and State Bank of India saw their valuations rise by ₹17,774.65 crore and ₹7,938.34 crore, respectively last week.
Market setbacks
Three companies see decline in market valuation
Despite the overall positive trend, three companies, Infosys, Tata Consultancy Services (TCS), and Life Insurance Corporation of India (LIC) saw a decline in their market valuations last week. Infosys's valuation fell by ₹30,306.35 crore to ₹5,98,773.87 crore, while TCS's market cap declined by ₹23,807.01 crore to reach a total of ₹10,71,894.61 crore during the same period. LIC's valuation also dipped by ₹7,684.87 crore last week.