Eight Indian powerhouses drive ₹1.83 lakh crore market surge
Last week saw a significant increase in the market valuation of eight out of the top 10 most valued firms, collectively adding ₹1,83,290.36 crore to their worth. This surge was led by IT behemoths Tata Consultancy Services (TCS) and Infosys. The climb coincides with a rally in equities, as the BSE benchmark jumped by 963.87 points or 1.21%.
TCS and Infosys emerge as top gainers
TCS emerged as the biggest gainer among the top 10 firms, with its market valuation surging by ₹38,894.44 crore to reach a total of ₹14,51,739.53 crore. Infosys followed closely behind with an increase of ₹33,320.03 crore in its valuation, bringing it to a total of ₹6,83,922.13 crore. Reliance Industries and ICICI Bank also experienced a substantial rise. Reliance's valuation climbed by ₹32,611.36 crore to reach ₹21,51,562.56 crore, while ICICI Bank's market valuation zoomed up by ₹23,676.78 crore to ₹8,67,878.66 crore.
Other major firms also witness market valuation rise
The m-cap of Life Insurance Corporation of India (LIC), Hindustan Unilever, ITC, and State Bank of India (SBI) also rallied last week. LIC's market valuation increased by ₹16,950.99 crore to reach ₹6,42,524.89 crore, while Hindustan Unilever's m-cap surged by ₹16,917.06 crore to total at ₹5,98,487.89 crore. Additionally, ITC's m-cap rose by ₹10,924.13 crore and SBI's valuation climbed by ₹9,995.57 crore.
HDFC Bank and Bharti Airtel suffered loses
HDFC Bank and Bharti Airtel witnessed a decline in their market valuation. HDFC's m-cap dropped by ₹26,970.79 crore to ₹12,53,894.64 crore. Meanwhile, Bharti Airtel's valuation decreased by ₹8,735.49 crore to ₹8,13,794.86 crore.
