Top 6 Indian companies add ₹2L crore to market cap
What's the story
The cumulative market valuation of six of the top 10 most-valued Indian companies, saw a major jump last week. The total surge stood at ₹2,03,116.81 crore, indicating positive investor sentiment on Dalal Street. Tata Consultancy Services (TCS) and HDFC Bank emerged as the biggest gainers in this bullish trend, which also saw Sensex and Nifty indices making huge gains.
Information
TCS and HDFC Bank lead the surge
TCS led the surge with its market capitalization rising by ₹62,574.82 crore, taking the company's total valuation to ₹16,08,782.61 crore. HDFC Bank followed closely behind, adding ₹45,338.17 crore to its valuation which now stands at ₹14,19,270.28 crore.
Significant growth
Other major gainers in market valuation
Reliance Industries also posted strong gains, with its market value climbing by ₹26,185.14 crore to ₹17,75,176.68 crore. The increase further cemented its position as India's most valuable company. Infosys's market capitalization jumped by ₹26,885.8 crore, taking its valuation to ₹7,98,560.13 crore. State Bank of India (SBI) reported a profit of ₹22,311.55 crore, boosting its market valuation to ₹7,71,087.17 crore, while ICICI Bank added ₹19,821.33 crore to its valuation, which now stands at ₹9,37,545.57 crore.
Market fluctuations
Not all top companies saw an increase
Despite the overall positive trend, not all companies in the top 10 performed positively. Bharti Airtel's valuation fell by ₹16,720.1 crore, taking its total market cap to ₹9,10,005.80 crore. ITC experienced a decline of ₹7,256.27 crore, closing the week at ₹5,89,572.01 crore. Meanwhile, Hindustan Unilever and Life Insurance Corporation of India (LIC) saw smaller drops of ₹2,843.01 crore and ₹1,265 crore, respectively.
Market close
Market closes lower after RBI's announcement
On Friday, the Sensex edged down by 0.07% to close at 81,709.12 points, while the Nifty slipped 0.12% to settle at 24,677.8. This movement came after the Reserve Bank of India (RBI) announced a reduction in the cash reserve ratio (CRR) to improve liquidity but chose to keep interest rates unchanged.