Market cap of India's top 8 companies surges ₹1.21L crore
What's the story
The combined market capitalization of eight out of the top 10 most valued firms in India, saw a significant surge last week.
The total rise was ₹1,21,270.83 crore, with Reliance Industries emerging as the biggest gainer.
This increase aligns with an exceptional rally in benchmark equity indices.
BSE benchmark Sensex jumped 1,027.54 points or 1.21% to a record high of 85,978.25 on Friday.
Market leader
Reliance Industries leads with significant jump
Reliance Industries was on fire, seeing its market valuation soar by ₹53,652.92 crore, hitting an impressive ₹20,65,197.60 crore.
The State Bank of India (SBI) didn't lag behind either, witnessing a hefty rise of ₹18,518.57 crore, bringing its total to ₹7,16,333.98 crore.
These big boosts played a major role in the overall surge in the market cap of the top players last week.
Significant contributors
Bharti Airtel and ITC contribute to market cap surge
Bharti Airtel's market valuation took a big leap, jumping by ₹13,094.52 crore to hit a total of ₹9,87,904.63 crore. Meanwhile, ITC's market value grew by ₹9,927.3 crore, reaching ₹6,53,834.72 crore last week.
Market growth
TCS, HDFC Bank, and LIC witness growth
Tata Consultancy Services (TCS) saw its market cap surge by ₹8,592.96 crore, to a total of ₹15,59,052 crore last week.
HDFC Bank's valuation climbed up by ₹8,581.64 crore, reaching a total of ₹13,37,186.93 crore during the same period.
Additionally, Life Insurance Corporation of India (LIC) experienced a significant increase in its market cap by ₹8,443.87 crore, to hit a total of ₹6,47,616.51 crore last week.
Losers
ICICI Bank and HUL stumble
Infosys added to the overall market cap boost with a small rise of ₹459.05 crore, pushing its total valuation to ₹7,91,897.44 crore last week.
But it wasn't all sunshine for the top firms, as ICICI Bank's market value fell by ₹23,706.16 crore to ₹9,20,520.72 crore.
Hindustan Unilever's (HUL) market cap also dropped by ₹3,195.44 crore, settling at ₹6,96,888.77 crore last week.