Market cap of India's top 3 firms up by ₹75,855cr
What's the story
The combined market capitalization of three of India's top-10 most valued companies rose by ₹75,855.43 crore last week. The surge was led by the State Bank of India (SBI) and Infosys. The Sensex fell 5.89 points while the Nifty gained 11.05 points during this period. SBI's market valuation jumped by ₹39,045.51 crore to ₹9,62,107.27 crore, making it the biggest gainer among these firms in a holiday-shortened week of trading sessions.
Market gains
Infosys and ICICI Bank's market valuations surge
Infosys also witnessed a major jump in its market capitalization, which surged by ₹31,014.59 crore to ₹7,01,889.59 crore. ICICI Bank also saw a significant increase in its valuation by adding ₹5,795.33 crore and taking its total valuation to ₹10,09,470.28 crore. These three companies together contributed more than the combined loss of seven other firms that lost a total of ₹75,549.89 crore from their valuations during this period.
Market losses
Reliance Industries and others face losses
Reliance Industries's market capitalization took a major hit, falling by ₹23,952.48 crore to ₹19,72,493.21 crore. Larsen & Toubro's market valuation also took a hit as it fell by ₹23,501.8 crore to ₹5,30,410.23 crore during this period. HDFC Bank's valuation declined by ₹11,615.35 crore, while Bharti Airtel's market capitalization fell by ₹6,443.38 crore.
Valuation dips
Other firms witness market capitalization declines
Bajaj Finance's market capitalization also took a hit, declining by ₹6,253.59 crore to ₹5,91,447.16 crore during this period. Hindustan Unilever's valuation fell by ₹3,312.93 crore, while TCS's valuation dipped by ₹470.36 crore. Despite these losses among some companies and gains among others, Reliance Industries still remained the most valued domestic firm.