Market cap of India's top 7 companies up ₹1.28L crore
What's the story
The combined market capitalization of seven out of the top 10 most valuable Indian companies increased by a whopping ₹1.28 lakh crore last week. The rise comes in line with the overall positive sentiment in equity markets, with the BSE benchmark index gaining 669.14 points or 0.79%. Reliance Industries and Bharti Airtel were the biggest contributors to this increase in market value.
Market leaders
Reliance Industries regains top position
Reliance Industries witnessed the highest jump in market valuation, which surged by ₹36,673 crore to ₹20.92 lakh crore. This spike has helped the company reclaim its status as India's most valuable firm. Bharti Airtel also performed well with a gain of ₹36,579 crore taking its market cap to ₹12.33 lakh crore. Infosys and Tata Consultancy Services (TCS) also contributed significantly to this rise with gains of ₹17,490.03 crore and ₹16,299.49 crore respectively last week.
Financial gains
Banking giants and HUL join the upward trend
Among banking giants, HDFC Bank's market cap grew by ₹14,608.22 crore to ₹15.35 lakh crore. State Bank of India (SBI) also saw a rise in its valuation by ₹4,846.08 crore taking it to ₹8.97 lakh crore last week. Hindustan Unilever's market cap rose by ₹1,785.69 crore to reach a total of ₹5.71 lakh crore.
Market fluctuations
Mixed results for Bajaj Finance, LIC
Not all top companies shared in the gains last week. Bajaj Finance's valuation declined by ₹8,244.79 crore bringing its market cap to ₹6.25 lakh crore. LIC also witnessed a contraction with its market value plunging by ₹4,522.38 crore to ₹5.70 lakh crore.