In a significant market rally, nine of the top-10 most valued companies collectively added Rs 2.89 lakh crore to their market capitalization last week, with Reliance Industries (RIL) emerging as the biggest gainer. This surge aligns with the broader market trend, as the BSE Sensex recorded its best monthly gain in June, climbing 7.14%.
Market Highlights
- Reliance Industries (RIL): The oil-to-telecom giant saw its market capitalization jump by Rs 1,52,264.63 crore, reaching Rs 21,18,951.20 crore.
- Tata Consultancy Services (TCS): Added Rs 34,733.64 crore to its market cap, now valued at Rs 14,12,845.09 crore.
- ICICI Bank: Increased its valuation by Rs 30,286.99 crore, bringing its total market cap to Rs 8,44,201.88 crore.
- Bharti Airtel: Saw a surge of Rs 18,267.7 crore in market cap, totaling Rs 8,22,530.35 crore.
- Infosys: Gained Rs 14,656.3 crore, with a new market valuation of Rs 6,50,602.10 crore.
- HDFC Bank: Increased by Rs 13,808.74 crore, reaching a market cap of Rs 12,80,865.43 crore.
- State Bank of India (SBI): Added Rs 11,111.14 crore, now valued at Rs 7,57,565.68 crore.
- Hindustan Unilever (HUL): Market cap went up by Rs 7,953.37 crore, totaling Rs 5,81,570.83 crore.
- ITC: Gained Rs 6,616.91 crore, with a total market cap of Rs 5,30,475.82 crore.
Notable Laggard
- Life Insurance Corporation of India (LIC): Contrary to the trend, LIC saw its market valuation erode by Rs 22,042.61 crore, bringing its total market cap down to Rs 6,25,573.90 crore.
Market Performance
The BSE benchmark index jumped 1,822.83 points, or 2.36%, over the last week. June’s performance marked a historic milestone for the Sensex, which breached the 79,000 mark on June 27.
Current Rankings
Reliance Industries remains the most valued firm in India, followed by Tata Consultancy Services, HDFC Bank, ICICI Bank, Bharti Airtel, State Bank of India, Infosys, LIC, Hindustan Unilever, and ITC.
Conclusion
The robust performance of these nine companies reflects the overall positive sentiment in the Indian stock market. With significant gains led by Reliance Industries, the market’s upward trajectory underscores investor confidence and the resilience of India’s top corporations amid evolving economic conditions.
