Market cap of India's top 6 companies climbs ₹1.97L crore
Six of India's top 10 most valued firms, experienced a significant increase in their combined market valuation last week, adding ₹1.97 lakh crore to their worth. This surge was primarily driven by ICICI Bank and HDFC Bank, reflecting the positive trends in the equity market during this period. The BSE benchmark Sensex also saw an impressive rise of 1,653.37 points or 1.99%.
ICICI Bank and HDFC Bank lead the surge
ICICI Bank's valuation witnessed the most significant increase among the top 10 firms, rising by ₹63,359.79 crore to reach ₹9.44 lakh crore. HDFC Bank followed closely with an addition of ₹58,569.52 crore to its market valuation, which now stands at a robust ₹13.29 lakh crore. These two banks emerged as the biggest winners in last week's market surge.
Other companies also see significant valuation increases
Bharti Airtel's market valuation also experienced a substantial rise of ₹44,319.91 crore, reaching ₹9.75 lakh crore. Reliance Industries saw its market capitalization climb by ₹19,384.07 crore, to an impressive ₹20.12 lakh crore. Hindustan Unilever and ITC also enjoyed increases in their valuations, gaining ₹10,725.88 crore and ₹1,375.6 crore respectively last week alone.
Some firms experience a dip
Despite the overall positive trend, some firms saw a decrease in their market cap last week. Tata Consultancy Services (TCS) experienced a significant drop of ₹85,730.59 crore, bringing its valuation down to ₹15.50 lakh crore. Infosys and Life Insurance Corporation of India (LIC) also faced declines in their valuations by ₹15,861.16 crore and ₹14,832.12 crore respectively, during this period.
