Market cap of India's top 5 firms up by ₹60,676cr
What's the story
The market capitalization of five out of the top 10 most valued companies in India rose by a whopping ₹60,675.94 crore last week. The rally was led by State Bank of India (SBI) and HDFC Bank, both of which witnessed significant gains amid a positive trend in equities. Reliance Industries continued to be the most valued firm on the list.
Market surge
SBI, HDFC Bank lead gains
SBI's market valuation jumped by a massive ₹20,445.82 crore to ₹7,63,095.16 crore, the highest among the top 10 firms. HDFC Bank also witnessed a major jump in its market capitalization by ₹14,083.51 crore to ₹15,28,387.09 crore last week. Infosys and Bharti Airtel added ₹9,887.17 crore and ₹8,410.6 crore respectively, to their valuations during this period.
Valuation changes
LIC sees massive fall in valuation
Reliance Industries's valuation also went up by ₹7,848.84 crore to ₹18,59,023.43 crore. However, not all companies were in the green last week. Life Insurance Corporation of India (LIC) saw a massive fall in its market capitalization by ₹15,306.5 crore to ₹5,61,881.17 crore during this period. Bajaj Finance and ICICI Bank also witnessed declines of ₹9,601.08 crore and ₹6,513.34 crore respectively in their valuations.
Market dip
TCS, Hindustan Unilever also witness declines
Tata Consultancy Services (TCS) and Hindustan Unilever Ltd also witnessed falls in their market capitalizations last week. TCS's mcap fell by ₹4,558.79 crore to ₹10,93,349.87 crore, while Hindustan Unilever's dipped by ₹3,630.12 crore to ₹5,83,391.76 crore during this period.