Did 7 of the Top 10 Companies Gain Rs 1.28 Lakh Crore in Market Value?
Synopsis
Key Takeaways
- Market capitalization of seven top firms rose by Rs 1.28 lakh crore.
- Positive trends in domestic equities boosted investor confidence.
- Reliance Industries and Bharti Airtel led the gains.
- Not all companies performed well, with some experiencing losses.
- Overall, the market sentiment remains optimistic.
New Delhi, Nov 23 (NationPress) The total market capitalization of seven of India’s top-10 valued firms surged by more than Rs 1.28 lakh crore last week, buoyed by a positive shift in domestic equity markets.
The overall market sentiment was optimistic, with the BSE benchmark index (Sensex) climbing by 669.14 points, equating to 0.79 percent growth during the week. The Nifty50 also experienced an increase of 0.61 percent in this period.
Major players reported significant gains in their market capitalizations, despite three major companies witnessing a decrease in value. This week's performance highlighted strong investor enthusiasm in key sectors, including energy, banking, IT, and FMCG.
Among the firms that gained, Reliance Industries and Bharti Airtel experienced substantial increases in their valuations, with Bharti Airtel's valuation rising by Rs 36,579.01 crore to reach Rs 12,33,279.85 crore.
In addition, Infosys gained Rs 17,490.03 crore, bringing its market capitalization to Rs 6,41,688.83 crore. Tata Consultancy Services (TCS) also reported healthy gains of Rs 16,299.49 crore, elevating its valuation to Rs 11,39,715.66 crore.
The banking sector also contributed positively, with HDFC Bank expanding by Rs 14,608.22 crore to Rs 15,35,132.56 crore, while State Bank of India saw an increase of Rs 4,846.08 crore to Rs 8,97,769.87 crore. In the FMCG sector, Hindustan Unilever's market capitalization rose by Rs 1,785.69 crore, reaching Rs 5,71,972.75 crore.
However, not all leading companies shared this upward trend. Bajaj Finance experienced the most significant loss, with its valuation dropping by Rs 8,244.79 crore to Rs 6,25,328.59 crore. The Life Insurance Corporation of India (LIC) lost Rs 4,522.38 crore, reducing its value to Rs 5,70,578.04 crore, and ICICI Bank faced a slight decline of Rs 1,248.08 crore, bringing its market capitalization to Rs 9,79,126.35 crore.
In the overall rankings, Reliance Industries maintained its position as the most valued domestic company, followed by HDFC Bank, Bharti Airtel, TCS, ICICI Bank, State Bank of India, Infosys, Bajaj Finance, Hindustan Unilever, and LIC.