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Business News/ Markets / Stock Markets/  MarketCap of 8 top 10 most valued firms surges 1.47 lakh crore; LIC, Reliance major gainers
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MarketCap of 8 top 10 most valued firms surges ₹1.47 lakh crore; LIC, Reliance major gainers

During the same period, the BSE benchmark surged by 1,341.47 points, marking a growth of 1.84 per cent.

Investors are piling into FAANG shorts as US stocks continue to breach new records, with the Nasdaq Composite Index surging above 8,000 for the first time Tuesday.Premium
Investors are piling into FAANG shorts as US stocks continue to breach new records, with the Nasdaq Composite Index surging above 8,000 for the first time Tuesday.

Last week witnessed significant market valuation gains, with eight of the top-10 most valued firms collectively adding 1,47,935.19 crore. Notably, Life Insurance Corporation of India (LIC) and Reliance Industries stood out as the primary beneficiaries of this surge.

During the same period, the BSE benchmark surged by 1,341.47 points, marking a growth of 1.84 per cent.

Also read: Stocks to buy or sell: GAIL to Ashok Leyland — Sumeet Bagadia recommends three stocks for May 21

To ensure operational resilience, the National Stock Exchange (NSE) and BSE conducted a special trading session in the equity and equity derivative segments on May 18.

LIC's valuation surged by 40,163.73 crore, reaching 6,16,212.90 crore, while Reliance Industries added 36,467.26 crore, elevating its market valuation to 19,41,110.70 crore.

Bharti Airtel's market capitalization climbed by 26,492.61 crore to 7,64,917.29 crore, and HDFC Bank rallied by 21,136.71 crore to 11,14,163.29 crore.

Additionally, ICICI Bank's mcap soared by 9,570.68 crore to 7,94,404.51 crore, and Infosys witnessed an increase of 7,815.51 crore, reaching 5,99,376.39 crore.

ITC experienced a jump in mcap by 4,057.54 crore, totaling 5,44,895.67 crore, while State Bank of India added 2,231.15 crore to 7,32,576.77 crore.

Also read: Week Ahead: US Fed chair speech, Q4 results, FII activity, global cues among key market triggers next week

However, Tata Consultancy Services (TCS) saw a decline in mcap by 16,588.94 crore to 13,92,963.69 crore, and Hindustan Unilever's mcap dipped by 6,978.29 crore to 5,46,843.87 crore.

Reliance Industries maintained its position as the most valued firm, trailed by TCS, HDFC Bank, ICICI Bank, Bharti Airtel, State Bank of India, LIC, Infosys, Hindustan Unilever, and ITC.

(With inputs from PTI)

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Published: 19 May 2024, 12:58 PM IST
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