M-cap of top 9 firms soar, add ₹2.89 lakh crore
The market capitalization of nine out of the top ten most valued firms in the Indian stock market, has collectively added ₹2,89,699.42 crore to their valuation last week. This surge aligns with a broader rally in equities as the BSE benchmark index saw a significant rise of 1,822.83 points or 2.36% over the past week. The month of June also marked an impressive performance for the Sensex, which climbed 7.14% and crossed the historic 79,000 mark on June 27.
Reliance Industries leads, LIC faces decline
Reliance Industries emerged as the top gainer among these firms, with its market capitalization jumping by ₹1,52,264.63 crore to reach ₹21,18,951.20 crore. It also remained the most valued firm. Other companies that saw significant gains include Tata Consultancy Services (TCS), HDFC Bank, ICICI Bank, Bharti Airtel, Infosys, Hindustan Unilever, and State Bank of India (SBI). However, Life Insurance Corporation of India (LIC) was the only company among the top 10 to see a decline in valuation.
Detailed breakdown of other m-cap gainers
TCS added ₹34,733.64 crore to its valuation, now standing at ₹14,12,845.09 crore. ICICI Bank's market cap soared by ₹30,286.99 crore to reach a total of ₹8,44,201.88 crore, while Bharti Airtel saw a rise of ₹18,267.7 crore bringing its total valuation to ₹8,22,530.35 crore. Infosys and HDFC Bank also experienced significant climbs in their market valuations, reaching totals of ₹6,50,602.10 crore and 12,80,865.43 crore, respectively.
Further gains and LIC's decline in valuation
The State Bank of India's market cap rallied by ₹11,111.14 crore, touching a total of ₹7,57,565.68 crore. Hindustan Unilever saw its valuation rise by ₹7,953.37 crore to reach a total of ₹5,81,570.83 crore, while ITC's market cap climbed by ₹6,616.91 crore to ₹5,30,475.82 crore. Contrarily, LIC's valuation went down by ₹22,042.61 crore, reducing its total to ₹6,25,573.90 crore.
