Market cap of India's top 7 firms up by ₹96,200cr
What's the story
The combined market capitalization of seven of India's top 10 most valued companies rose by ₹96,200.95 crore last week. The surge was led by Reliance Industries and Bajaj Finance amid a positive equity market trend. The BSE benchmark index also gained 474.75 points or 0.55%, hitting a record high of 66,055.86 on Thursday.
Market leaders
Reliance Industries and Bajaj Finance lead market gains
Reliance Industries saw its market capitalization increase by ₹28,282.86 crore to ₹21,20,335.47 crore. Bajaj Finance's valuation also rose by ₹20,347.52 crore to ₹6,45,676.11 crore during the same period. HDFC Bank's valuation jumped by ₹13,611.11 crore, while ICICI Bank's surged by a similar amount during this bullish phase in the equity market.
Additional gainers
SBI, Infosys, Hindustan Unilever also witness market gains
Apart from Reliance and Bajaj Finance, other companies that witnessed a surge in their market capitalization include State Bank of India (SBI) and Infosys. SBI's valuation rose by ₹6,415.28 crore while Infosys's jumped by ₹6,273.15 crore during this period. Hindustan Unilever also saw its market capitalization increase by ₹7,671.41 crore.
Market downturns
Bharti Airtel, TCS, LIC face valuation erosion
Despite the overall positive trend in the equity market last week, some companies saw a dip in their market capitalization. Bharti Airtel's mcap plummeted by ₹35,239.01 crore, while Tata Consultancy Services (TCS) and Life Insurance Corporation of India (LIC) also faced a decline. TCS's mcap dipped by ₹3,762.81 crore while LIC's fell by ₹4,996.75 crore.