The combined market capitalisation of six of the top ten most valued companies surged by Rs 1,97,734.77 crore last week, driven primarily by strong performances from ICICI Bank and HDFC Bank amid positive equity trends.
During the same period, the BSE benchmark index rose by 1,653.37 points, or 1.99%. On Friday, the index closed at an all-time high of 84,544.31 after gaining 1,359.51 points, and it briefly reached an intra-day peak of 84,694.46, up 1,509.66 points.
ICICI Bank’s market valuation increased by Rs 63,359.79 crore to reach Rs 9,44,226.88 crore, marking the largest gain among the top ten firms.
HDFC Bank added Rs 58,569.52 crore, bringing its valuation to Rs 13,28,605.29 crore. Bharti Airtel saw its valuation rise by Rs 44,319.91 crore to Rs 9,74,810.11 crore, while Reliance Industries climbed by Rs 19,384.07 crore to Rs 20,11,544.68 crore.
Hindustan Unilever’s valuation gained Rs 10,725.88 crore to Rs 7,00,084.21 crore, and ITC increased by Rs 1,375.6 crore to Rs 6,43,907.42 crore.
In contrast, Tata Consultancy Services (TCS) experienced a decline of Rs 85,730.59 crore, bringing its market capitalisation to Rs 15,50,459.04 crore. Infosys fell by Rs 15,861.16 crore to Rs 7,91,438.39 crore, while Life Insurance Corporation (LIC) dropped by Rs 14,832.12 crore to Rs 6,39,172.64 crore. State Bank of India also saw a decrease of Rs 7,719.79 crore, lowering its market cap to Rs 6,97,815.41 crore.
Reliance Industries remains the most valued firm, followed by TCS, HDFC Bank, Bharti Airtel, ICICI Bank, Infosys, Hindustan Unilever, State Bank of India, ITC, and LIC.