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Market Cap Surge Six of India’s Top Firms Gain Rs 88,678 Crore as Banking Stocks Shine. (Image Internet)
New Delhi: The combined market capitalisation of six of India's 10 most-valued companies increased by Rs 88,678 crore during the holiday-shortened week. During the week, the Sensex advanced 297.57 points, or 0.38 per cent, while the Nifty rose 42.9 points, or 0.17 per cent. Among the top-valued firms, HDFC Bank, ICICI Bank, State Bank of India, Bajaj Finance and Larsen & Toubro registered gains in their market capitalisation, while Bharti Airtel, Tata Consultancy Services, Life Insurance Corporation of India and Hindustan Unilever witnessed declines.
ICICI Bank emerged as the biggest gainer, with its market valuation rising by Rs 29,588.75 crore to Rs 9,95,610.74 crore. HDFC Bank added Rs 24,718.3 crore, taking its market capitalisation to Rs 12,25,981.44 crore. Bajaj Finance recorded an increase of Rs 11,580.28 crore in its valuation, which stood at Rs 6,10,081.53 crore at the end of the week.
State Bank of India added Rs 9,322.93 crore to reach a market valuation of Rs 9,64,738 crore. Larsen & Toubro also witnessed a marginal gain of Rs 1,423.88 crore, taking its market capitalisation to Rs 5,80,550.83 crore.
On the losing side, Bharti Airtel registered the sharpest decline, with its market valuation falling by Rs 35,615.21 crore to Rs 11,27,348.09 crore. Life Insurance Corporation of India saw its market capitalisation decline by Rs 21,188.74 crore to Rs 5,35,537.56 crore.
Tata Consultancy Services lost Rs 11,143.71 crore, reducing its valuation to Rs 7,58,206.42 crore. Hindustan Unilever also witnessed a decline in its market capitalisation, which fell by Rs 5,321.83 crore to Rs 5,10,624.92 crore. Among the country's most valued companies, HDFC Bank retained its position at the top, followed by Bharti Airtel, ICICI Bank, State Bank of India, Tata Consultancy Services, Bajaj Finance, Larsen & Toubro, Life Insurance Corporation of India and Hindustan Unilever.
--IANS
