Synopsis
On March 9, 2023, the market capitalization of seven leading firms in India rose by ₹2.1 lakh crore, spearheaded by TCS and SBI. The Sensex and Nifty both reported significant gains, reflecting strong market momentum. However, several firms experienced declines in their valuations.Key Takeaways
- TCS regained its status as the second most valued company.
- SBI saw a significant market cap increase.
- Overall, seven of the top ten firms reported gains.
- Market indices like Sensex and Nifty showed upward trends.
- Experts predict market influences from various factors.
Mumbai, March 9 (NationPress) The total market capitalization of seven of India's ten most valuable companies surged by ₹2,10,254.96 crore last week.
Tata Consultancy Services (TCS) and State Bank of India (SBI) were key contributors to this upward trend as stock markets experienced robust momentum.
Throughout the week, the 30-share Sensex climbed by 1,134.48 points, or 1.55 percent, while the Nifty saw an increase of 427.8 points, equivalent to 1.93 percent.
This favorable trend allowed numerous large corporations to boost their market capitalization, as reported.
TCS experienced a notable increase in its market value, rising by ₹46,094.44 crore to reach ₹13,06,599.95 crore.
With this surge, it reclaimed its status as the second most valued company in India.
SBI's market capitalization surged by ₹39,714.56 crore, reaching ₹6,53,951.53 crore. Bharti Airtel also witnessed significant growth, with its valuation increasing by ₹35,276.3 crore to ₹9,30,269.97 crore.
ITC saw its market value rise by ₹11,425.77 crore, bringing its total valuation to ₹5,05,293.34 crore. ICICI Bank also enjoyed an increase of ₹7,939.13 crore, elevating its market capitalization to ₹8,57,743.03 crore.
Hindustan Unilever added ₹2,819.51 crore to its market value, which now totals ₹5,17,802.92 crore.
Conversely, some companies experienced declines last week. HDFC Bank saw its market valuation drop by ₹31,832.92 crore, falling to ₹12,92,578.39 crore.
Bajaj Finance also faced a reduction of ₹8,535.74 crore, lowering its total valuation to ₹5,20,981.25 crore. Infosys' market value slightly decreased by ₹955.12 crore, reaching ₹7,00,047.10 crore.
By the week's end, the most valued companies in India included TCS, HDFC Bank, Bharti Airtel, ICICI Bank, Infosys, SBI, Bajaj Finance, Hindustan Unilever, and ITC.
Experts suggest that the Indian equity benchmark indices will be influenced by various domestic and international factors, including India's retail inflation data, FII activities, dollar to rupee fluctuations, and US President Donald Trump's tariff policy.
