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Business News/ Markets / Stock Markets/  Market capitalisation of 7 of top-10 most valued firms climb 65,302 crore, TCS, ICICI Bank lead market cap surge
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Market capitalisation of 7 of top-10 most valued firms climb ₹65,302 crore, TCS, ICICI Bank lead market cap surge

TCS saw its market cap rise by a substantial ₹19,881.39 crore, followed by ICICI Bank with a gain of ₹15,672.82 crore. Other notable gainers included State Bank of India increased by ₹12,182.1 crore, HDFC Bank added ₹7,178.03 crore, and Hindustan Unilever grew by 5,051.63 crore.

The market valuation of TCS climbed ₹19,881.39 crore to ₹14,85,912.36 crore.Premium
The market valuation of TCS climbed 19,881.39 crore to 14,85,912.36 crore.

The combined market valuation of India's top 10 companies rose by a significant 65,302.5 crore last week, mirroring the upward trend in the broader market. This positive sentiment was driven by gains in seven of the top 10 most valuable firms, with Tata Consultancy Services (TCS) and ICICI Bank leading the pack.

The Indian stock market continued its upward trend last week, with the benchmark Sensex index rising by 0.90 per cent and the Nifty index gaining 0.74 per cent. However, this news wouldn't be directly related to the separate development of the leading stock exchanges conducting a special trading session to test their preparedness for potential disruptions. This session was aimed at ensuring the smooth functioning of the markets in case of any major issue at the primary site.

From the top-10 pack, TCS, HDFC Bank, ICICI Bank, State Bank of India, Bharti Airtel, Hindustan Unilever and ITC were the gainers, while Reliance Industries, Infosys and Life Insurance Corporation of India (LICI) faced erosion from their market capitalisation (mcap).

The market valuation of TCS climbed 19,881.39 crore to 14,85,912.36 crore.

ICICI Bank added 15,672.82 crore, taking its valuation to 7,60,481.54 crore.

The market valuation of State Bank of India jumped 12,182.1 crore to 6,89,917.13 crore, and that of HDFC Bank rallied 7,178.03 crore to 10,86,464.53 crore.

The mcap of Hindustan Unilever went up by 5,051.63 crore to 5,67,626.01 crore, and that of Bharti Airtel climbed 4,525.14 crore to 6,38,721.77 crore.

The valuation of ITC increased by 811.39 crore to 5,14,451.76 crore.

However, LIC's mcap eroded by 19,892.12 crore to 6,54,763.76 crore.

The market valuation of Infosys declined by 9,048.17 crore to 6,86,997.15 crore, and that of Reliance Industries dipped 3,720.44 crore to 20,16,750.44 crore.

In the ranking of the most valued companies, Reliance Industries continued to lead the pack, followed by TCS, HDFC Bank, ICICI Bank, State Bank of India, Infosys, LIC, Bharti Airtel, Hindustan Unilever and ITC.

(With Inputs from PTI)

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Published: 03 Mar 2024, 10:47 AM IST
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