The combined market valuation of five of the top 10 most valued firms in India witnessed an increase of ₹60,675.94 crore during the past week, fueled by positive trends in the equity markets. State Bank of India (SBI) and HDFC Bank emerged as the biggest gainers in this rally.
During this holiday-shortened week, the Sensex climbed 739.87 points (0.92%), and the Nifty edged higher by 268 points (1.10%). This positive market sentiment contributed to the increase in the market capitalization of several leading companies.
Among the top 10 firms, Reliance Industries, HDFC Bank, Bharti Airtel, State Bank of India, and Infosys all experienced gains in their valuation. In contrast, Tata Consultancy Services (TCS), ICICI Bank, Hindustan Unilever Ltd, Life Insurance Corporation of India (LIC), and Bajaj Finance faced erosion in their market capitalization.
State Bank of India (SBI) saw the most significant increase in valuation, jumping by ₹20,445.82 crore to reach ₹7,63,095.16 crore. HDFC Bank followed closely, with its market capitalization surging by ₹14,083.51 crore to ₹15,28,387.09 crore. Infosys added ₹9,887.17 crore, taking its valuation to ₹6,01,310.19 crore. Bharti Airtel's market capitalization increased by ₹8,410.6 crore to ₹10,68,260.92 crore, and Reliance Industries' valuation went up by ₹7,848.84 crore to ₹18,59,023.43 crore.
On the losing side, LIC's market capitalization tumbled by ₹15,306.5 crore to ₹5,61,881.17 crore. Bajaj Finance faced an erosion of ₹9,601.08 crore, bringing its valuation down to ₹5,35,547.44 crore. ICICI Bank's valuation declined by ₹6,513.34 crore to ₹10,18,982.35 crore. TCS saw a decrease of ₹4,558.79 crore, with its market capitalization falling to ₹10,93,349.87 crore, and Hindustan Unilever dipped by ₹3,630.12 crore to ₹5,83,391.76 crore.
Despite these fluctuations, Reliance Industries retained its position as the most valued firm. The ranking of the top 10 firms remained as follows: Reliance Industries, followed by HDFC Bank, TCS, Bharti Airtel, ICICI Bank, State Bank of India, Infosys, Hindustan Unilever, LIC, and Bajaj Finance.
The increase in market capitalization reflects positive investor sentiment and overall growth in the equity markets. However, some companies faced declines, indicating a mixed performance among the top players.
