Market cap of 7 out of 10 most valued companies added ₹3 lakh crore; HDFC Bank and LIC among biggest gainers | Mint
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Business News/ Markets / Stock Markets/  Market cap of 7 out of 10 most valued companies added 3 lakh crore; HDFC Bank and LIC among biggest gainers

Market cap of 7 out of 10 most valued companies added ₹3 lakh crore; HDFC Bank and LIC among biggest gainers

Mcap of seven of top-10 most valued firms added ₹3.04 lakh cr; HDFC Bank, LIC biggest gainers

Indian stock market. Image Credit: PixabayPremium
Indian stock market. Image Credit: Pixabay

The collective market capitalization of seven out of the top 10 most valued companies surged by 3,04,477.25 crore last week, with HDFC Bank and LIC leading the gains amid an overall optimistic trend in the equity markets.

During the week, the BSE benchmark witnessed a substantial rally of 2,344.41 points or 3.47 percent. On Friday, the 30-share BSE Sensex marked a new peak at 69,825.60, rising by 303.91 points or 0.44 percent, reaching an intra-day high of 69,893.80.

Companies such as HDFC Bank, Life Insurance Corporation of India (LIC), ICICI Bank, Tata Consultancy Services, and Reliance Industries observed increases in their market valuations.

HDFC Bank's valuation saw a remarkable increase of 74,076.15 crore, reaching 12,54,664.74 crore. LIC's market capitalization rose by 65,558.6 crore to 4,89,428.32 crore by the end of Friday, surpassing the 5 lakh crore-mark after hitting a 52-week high on Thursday.

ICICI Bank's market cap climbed by 45,466.21 crore to 7,08,836.92 crore. Tata Consultancy Services (TCS) witnessed a surge of 42,737.72 crore in market cap, reaching 13,26,918.39 crore, and Reliance Industries Ltd's valuation soared by 42,454.66 crore to 16,61,787.10 crore.

The market capitalization of State Bank of India increased by 37,617.24 crore to 5,47,971.17 crore, and Infosys advanced by 15,916.92 crore to 6,18,663.93 crore.

However, Hindustan Unilever's market valuation declined by 9,844.79 crore to 5,92,414.19 crore, and Bharti Airtel fell by 8,569.98 crore to 5,61,896.90 crore. Additionally, the market capitalization of ITC decreased by 935.48 crore to 5,60,223.61 crore.

In the ranking of top-10 firms, Reliance Industries Ltd retained its position as the most valued company, followed by TCS, HDFC Bank, ICICI Bank, Infosys, Hindustan Unilever Ltd, Bharti Airtel, ITC, State Bank of India, and Life Insurance Corporation of India.

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Published: 10 Dec 2023, 02:36 PM IST
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