Market cap of 9 of top-10 most valued firms jumps Rs 2,89,699.42 crore; TCS, HDFC Bank gainers
The BSE benchmark index climbed 1,822.83 points, or 2.36 percent, over the week. Notably, June was a stellar month for the BSE Sensex, which recorded a 7.14 percent gain, crossing the historic 79,000 mark on Thursday.
In the last week, nine of the top ten most valued companies collectively added Rs 2,89,699.42 crore to their market valuation. Reliance Industries led the surge, reflecting a broader rally in equities.
The BSE benchmark index climbed 1,822.83 points, or 2.36 percent, over the week. Notably, June was a stellar month for the BSE Sensex, which recorded a 7.14 percent gain, crossing the historic 79,000 mark on Thursday.
Among the top gainers were Reliance Industries, Tata Consultancy Services (TCS), HDFC Bank, ICICI Bank, Bharti Airtel, State Bank of India (SBI), Infosys, Hindustan Unilever, and ITC. In contrast, Life Insurance Corporation of India (LIC) was the sole laggard.
Reliance Industries' market capitalisation soared by Rs 1,52,264.63 crore, reaching Rs 21,18,951.20 crore. TCS saw an increase of Rs 34,733.64 crore, bringing its valuation to Rs 14,12,845.09 crore. ICICI Bank's market cap surged by Rs 30,286.99 crore to Rs 8,44,201.88 crore, while Bharti Airtel's valuation rose by Rs 18,267.7 crore to Rs 8,22,530.35 crore.
Infosys added Rs 14,656.3 crore to its market cap, which now stands at Rs 6,50,602.10 crore. HDFC Bank's valuation grew by Rs 13,808.74 crore, reaching Rs 12,80,865.43 crore. SBI saw its market capitalisation increase by Rs 11,111.14 crore to Rs 7,57,565.68 crore.
Hindustan Unilever's market cap rose by Rs 7,953.37 crore to Rs 5,81,570.83 crore, and ITC's valuation increased by Rs 6,616.91 crore to Rs 5,30,475.82 crore. Conversely, LIC's market capitalisation fell by Rs 22,042.61 crore to Rs 6,25,573.90 crore.
Reliance Industries remained the most valued company, followed by TCS, HDFC Bank, ICICI Bank, Bharti Airtel, SBI, Infosys, LIC, Hindustan Unilever, and ITC.
What is market capitalisation?
Market capitalisation or 'market cap' is a measure used to evaluate the total value of a publicly traded company. It is calculated by multiplying the current share price of the company by the total number of outstanding shares.
In essence, market capitalisation represents the theoretical value of a company according to the stock market.
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