MCap of 9 out of top 10 Sensex Companies Increased by Rs 1.85 Lakh Crore, RIL and HDFC Bank Made the Biggest Gains

In a remarkable display of market strength, nine out of the top ten Sensex companies experienced a significant rise in their market capitalisation, collectively adding Rs 1,85,320.49 crore last week. Leading the charge were Reliance Industries and HDFC Bank, marking substantial gains in their market valuations.

Sensex Hits All-Time High

The 30-share BSE Sensex surged by 1,404.45 points, or 1.89%, closing the week on a high note. On Friday, the Sensex touched an all-time intraday high of 75,636.50 points, reflecting the robust investor sentiment and economic optimism.

Reliance Industries: The Leader of the Pack

Reliance Industries, the behemoth of the Indian stock market, saw its market valuation soar by Rs 61,398.65 crore, bringing its total market cap to a staggering Rs 20,02,509.35 crore. This significant increase reinforces Reliance’s position as the most valuable company on the Sensex.

HDFC Bank: A Close Contender

HDFC Bank followed suit with an impressive gain of Rs 38,966.07 crore, elevating its market valuation to Rs 11,53,129.36 crore. This surge underscores the bank’s strong performance and investor confidence in its growth trajectory.

LIC and Bharti Airtel Show Strong Gains

Life Insurance Corporation of India (LIC) and Bharti Airtel also posted notable increases. LIC’s market cap rose by Rs 35,135.36 crore, reaching Rs 6,51,348.26 crore, while Bharti Airtel saw a rise of Rs 22,921.42 crore, bringing its total valuation to Rs 7,87,838.71 crore. These gains reflect the robust performance and strategic positioning of these companies in their respective sectors.

Hindustan Unilever and Infosys: Steady Performers

Hindustan Unilever and Infosys also contributed to the overall positive trend. Hindustan Unilever‘s market cap jumped by Rs 9,985.76 crore to Rs 5,56,829.63 crore, showcasing its steady market performance. Meanwhile, Infosys saw its market cap rise by Rs 8,821.99 crore, reaching Rs 6,08,198.38 crore, indicating strong investor confidence in the tech giant.

State Bank of India and ICICI Bank: Banking on Growth

State Bank of India (SBI) and ICICI Bank continued to exhibit growth, with SBI’s market cap increasing by Rs 6,916.57 crore to Rs 7,39,493.34 crore. ICICI Bank added Rs 903.31 crore to its market valuation, taking it to Rs 7,95,307.82 crore. These figures highlight the resilience and growth potential of India’s banking sector.

Tata Consultancy Services: A Marginal Increase

Tata Consultancy Services (TCS) saw a marginal increase in its market cap, rising by Rs 271.36 crore to Rs 13,93,235.05 crore. Despite the modest gain, TCS remains a critical player in the technology sector, with a robust market position.

ITC: The Lone Decliner

In contrast to the overall upward trend, ITC‘s market valuation declined by Rs 436.97 crore, settling at Rs 5,44,458.70 crore. This drop indicates a temporary setback in ITC’s market performance, despite the general positive sentiment in the market.

Conclusion: Market Optimism Prevails

The significant gains in the market capitalisation of these top Sensex companies underscore the prevailing optimism and confidence in the Indian economy. Reliance Industries and HDFC Bank’s impressive performances, along with the strong showings by LIC, Bharti Airtel, and others, reflect the resilience and growth potential of these market leaders.