Market cap of India's top 7 firms up ₹1.18L crore
What's the story
The combined market capitalization of seven out of the top 10 most valuable companies in India witnessed a massive jump of ₹1.18 lakh crore last week. The spike was led by State Bank of India (SBI) and Bharti Airtel, amid a positive trend in equities. The Bombay Stock Exchange (BSE) benchmark index also rose by 721.53 points or 0.88%.
Market leaders
SBI, Airtel lead the charge with massive gains
The market valuation of SBI surged by ₹35,953.25 crore to ₹7,95,910 crore. Bharti Airtel followed closely with a jump of ₹33,214.77 crore in its valuation to ₹11,18,952.64 crore. Reliance Industries also witnessed a major spike in its market capitalization by ₹17,389.23 crore to ₹19,04,898.51 crore. Tata Consultancy Services (TCS) saw an increase of ₹12,952.75 crore taking its valuation up to ₹11,46,879.47 crore.
Other gainers
LIC, Infosys also see significant gains
Life Insurance Corporation (LIC) and Infosys also saw their market valuations rise. LIC's valuation increased by ₹12,460.25 crore to ₹5,65,612.92 crore, while Infosys's climbed by ₹6,127.73 crore to ₹6,39,901.03 crore last week. HDFC Bank's market capitalization also went up marginally by ₹230.31 crore to touch ₹14,84,816.26 crore during this period.
Market laggards
Three companies witness decline in market capitalization
Three companies, ICICI Bank, Bajaj Finance and Hindustan Unilever saw a decline in their market valuations last week. ICICI Bank's valuation fell by ₹10,707.87 crore to ₹10,01,654.46 crore, while Bajaj Finance's eroded by ₹6,346.93 crore taking it down to ₹6,17,892.72 crore during this period. Hindustan Unilever also witnessed a dip of ₹5,039.87 crore taking its valuation down to ₹6,01,225.16 crore.